Picking the Right Money Manager? (WSJ)

Highlights:

“Imitating great money managers can be risky and requires plenty of patience. And leaning on someone else’s smarts doesn’t exempt you from the responsibility of doing your own thinking.

You shouldn’t buy a stock “just because Warren Buffett or another smart investor bought it,” says Robert Hagstrom. “You’ve got to have your own thesis as to why you own it,” he says.”

Robert Hagstrom is an author of several Warren Buffett-inspired books (see this link), and also a mutual fund manager of ClearBridge Global Growth

“Picking market-beating stocks is hard… And picking funds that can pick people who can pick market-beating stocks may be the hardest of all.-Jason Zweig”

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Image from Google

Reference

WSJ article by Jason Zweig

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