I believe this is includes stock picks only http://seekingalpha.com/article/83121-guru-returns-show-just-how-tough-the-going-has-been-lately
Mohnish Pabrai â¦â¦â¦... (- 41.20% ) â¦â¦â¦â¦â¦â¦( - 36.88% ) I read the book by Mohnish Pabrai and found it fishy. So his recent results confirmed my suspicion.
How are these returns calculated? I guess via quarterly holdings published by the SEC. Very inaccurate information and it doesn't include bond/debt positions as far as I know.
web 2.0 communities all did better than that. Exactly as decision making theory would predict. An expert opinion is NOT superior to the aggregate opinion of enthusiasts. We all face the same uncertainty. An individual can also do much better because they don't have to remain compliant. We generally move less size and face less slippage and liquidity constraints. We don't have forced diversification or style classes.
with savings of 0% and high unemployment and decline in unions. there is less money going into mutual funds. baby boomers are retiring so they start withdrawing from their IRA to maintain pre-retirement lifestyle.