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   Investment Thoughts - Academia

Murder on the Orient Express: The Mystery of Underperformance

 

Evidence increasingly shows that a “crime” of extensive underperformance has been committed in mutual funds, pension funds, and endowments. In a pattern reminiscent of Agatha Christie’s famous novel Murder on the Orient Express, an investigation leads to a surprising, if inevitable, conclusion: The usual suspects—investment managers, fund executives, investment consultants, and investment committees—are all guilty.

 

Financial Analysts Journal, July/August 2012, Vol. 68, No. 4-Charles D. Ellis, CFA

25.07.3000


 

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