Investment committees drag performance by hiring and firing managers at wrong times
Charlie Ellis · Charley Ellis - Figuring Out Investing and Vanguard (Capital Allocators, EP.286) · Dec 12, 2022 · at 17:26
Charlie Ellis, investment consultant and author, explains to Ted Seides why traditional investment committee turnover practices destroy institutional returns.
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“Because the record is very clear that investment committees tend to fire managers at the wrong time and to hire managers at the wrong time, creating a drag on investment results they could otherwise have had.”
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