What gift could make a difference if someone’s retirement plans were going nowhere? What if their best efforts to win in the stock market kept losing? Seems as if nothing short of a large pile of cash would make any difference, doesn’t it? Let’s look at a better solution.
In January 1994 Frank Armstrong began serializing an investing book. He had an interesting premise, that the conventional wisdom on investing was wrong. Admittedly his only proof of that was that the conventional wisdom hadn’t worked. In principle, the things he said should have been known. Every brokerage and mutual fund had access to the same data he used. The difference is that he let the data teach him, instead of trying to find some once in a blue moon event in the data to justify his preferences. He was way ahead of his time, pursuing big data. He crunched the numbers to find the mutual fund managers who delivered top returns year after year. His great discovery: