Would you entrust your investable assets to someone who believes in conspiracy theories? Or denies objective facts, publicly, because they don’t conform with their predetermined opinions and feelings?
Would you let a person invest on your behalf if you had watched them formulate opinions based on anger or pride or some other such non-valid bias?
Would you put your money with someone who ran away from an investment business to join the circus, then tried Hollywood, then finally, when all other options were exhausted, decided to run an investment fund?
Would you invest your money with someone who couldn’t articulate anything about their process or beliefs, and trafficked instead in one-off pitches of individual ideas, latching onto whatever the hot buzzword or trend of the moment might be?
Would you invest with someone who had never publicly changed their mind about anything or admitted any faults or errors in their career?
Would you put your portfolio in the hands of someone professing to be able to consistently identify outperforming fund managers, despite the incontrovertible fact that 90% of all funds underperform their benchmarks over 10 year periods of time? Would you trust a person who tells you they can reliably select the 10%, in advance, and pull off this feat of magic again and again in the future – despite not offering any evidence to bolster this claim?
Would you take the investment savings it’s taken you a lifetime to accumulate and hand it to someone whom you know for a fact is either lying about their abilities, overconfident about their abilities or clueless about the statistical and probabilistic limits that all investors face?