If you're not prepared to stay married, then you shouldn't get married. And if you're going to opt for an actively managed fund, pick one in which you'd be comfortable doubling your investment whenever the manager has a dreadful two or three years. If not, you're making a mistake. Because he will have a dreadful two or three years. I guarantee it.
Every good manager does.
You want an organization designed to help exceptionally talented investors gather information and use it rationally so that their best research comes through. So you need a fund company that is systematically organized around low turnover and long time horizons, and that has a collegial atmosphere. No one else has been so consistently excellent for so long. Q. You've said that there are three ways to succeed as an investor. You can succeed intellectually, physically, or emotionally.