Conor Mac's avatar
$342.5m follower assets
<1Y Performance is a Distraction
Some positive vibes for the morning. Was reading a Financial Times piece and stumbled across an opinion piece by Howard Marks where he notes the following; "One quarter's or one year's performance is meaningless at best, and a harmful distraction at worst".

There was also a great quote about waiting for a bus.

The full article for those interested.
Ben's avatar
Shout out to @commonstock, let’s add the longer term performance metrics. A 3 and 5 year would be nice
Conor Mac's avatar
@rpinvestments A greatly requested feature, and one I don't have the technical chops to fully explain, but the uniformity of data across brokerages is probably the biggest hurdle to that one. We do obviously want that, but I suspect we add this to asset charts first, and portfolio performance is a larger project.
The Thinking Investor's avatar
Completely agree. An amazing portfolio can still underperform on a 1-year time span. I think 3-5 years is where you can see if skill (although luck will still have effects) is being expressed in portfolio price appreciation.
Jared Watson's avatar
Thanks for sharing Conor! Howard Marks has so much wisdom in those memos
Conor Mac's avatar
@wjared Amen to that!
joseph's avatar
we needed this piece thank you for dropping this Conor!
Conor Mac's avatar
@jdub Glad to be of service :)
Arnaldo Trezzi's avatar
This bus quote is just amazing. Thank you for sharing!