The Stock Picker's Defeat

[BuyOnDips]

"William H. Miller spent nearly two decades building his reputation as the era's greatest mutual-fund manager. Then, over the past year, he destroyed it."

http://online.wsj.com/article/SB122886123425292617.html

[aiki14]

Originally Posted by BuyOnDips

"William H. Miller spent nearly two decades building his reputation as the era's greatest mutual-fund manager. Then, over the past year, he destroyed it."

http://online.wsj.com/article/SB122886123425292617.html

Chilling, down 70+%, $12 billion in losses. It goes to show you that no system works forever, and when it stops working you better have a new plan. I can only imagine the number of newbies this last year has wiped out.

[madcowdisease]

Originally Posted by BuyOnDips

"William H. Miller spent nearly two decades building his reputation as the era's greatest mutual-fund manager. Then, over the past year, he destroyed it."

http://online.wsj.com/article/SB122886123425292617.html

Yep, forwarded this same article to my friends and family when it was frontpage on wsj.com with the caption "if this guy can get wiped out none of us are safe."