Three days ago in a post, Past Performance Is Not a Guarantee…, we referenced the struggling investment manager William H. Miller and wrote:
“We want to understand what causes or motivates people to lose their skepticism…and accept someone as, say, a can’t-lose “genius” investor…rather than view him as a large risk (with, hopefully, a corresponding large expected return). What hope or psychological need permits such credulity?”
There are no allegations of wrong-doing on Mr. Miller’s part. It seems simply that his luck ran out. The unfortunate aspect of… Read the rest
