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Do you know how well your portfolio has done over the past year? Over the past three years? Since you opened the account? I can analyze your portfolio and determine whether you have done as well as the appropriate benchmarks. Using my own system as well as tools from Morningstar, I can tell you whether you have beaten your benchmark, or whether you have lagged – and which investments have caused you to beat or lag your benchmark.
If you have lagged the benchmark, you may decide to make a change in who is managing the portfolio. If you were to ask my opinion about a management style, I would suggest indexing. Why this so-called “passive” approach? Because in the many years that I have been following Wall Street and the mutual fund industry, as a writer and an investor, I have come to the conclusion that the typical portfolio manager does not beat the benchmarks, particularly when fees are included. True, some “active” managers are able to beat the market as a whole, but I would estimate that this happens only about 20% of the time. Very few if any can do so consistently.