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At the end of 2014, Tom Lee, co-founder and head of research at Fundstrat Global Advisors, explained why only about one out of five actively managed funds were able to outperform their benchmark index that year, and why he believed that 2015 could be huge for stock pickers. In fact, “2015 should be a very...

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Every year, the market provides us with important lessons on the prudent investment strategy. Many times, the market will offer investors remedial courses, covering lessons that it has already delivered in previous years. That’s why one of my favorite sayings is that there’s nothing new in investing; there is only investment history you don’t yet...

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Earlier this week, we began discussing 10 important lessons that the markets taught us in 2015 about the prudent investment strategy. In lessons one through three, we explored active management as a loser’s game, the “conventional wisdom” about the correlation between the economy and the stock market, and the “Sell in May” myth. Today we’ll...

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Hedge funds began 2015 coming off their sixth-straight year of trailing U.S. stocks (as measured by the S&P 500 Index) by significant margins. And for the 10-year period ending 2014, one that included the worst bear market in the post-Depression era, the HFRX Global Hedge Fund Index returned just 0.7% per year, underperforming every single...

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So far, we’ve covered seven important lessons that the market taught investors in 2015 about the prudent investment strategy. These lessons, some of which repeat year after year, have addressed active management as a loser’s game; the correlation between the stock market and the economy; the “Sell in May” myth; fear about inflation; the mistake...

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