If
in the long run we can accomplish this simple feat (which time has shown isn't simple at all), we'll end up with (a) above -
market performance on average, (b) below -
market volatility, (c) highly superior
performance in the
tough times, helping to combat people's natural tendency to «throw
in the towel» at the bottom, and thus (d) happy clients.
Over a five - year period my
performance has been fine but it's been much
tougher in the last few years to outperform because the
market has been so strong.