Too much noise - this means nothing. This is exactly the reason why serious investors give fund managers money not just based on performance, but on process.
I have trouble taking seriously any "serious investor" that invests in a fund and expects to beat the market. It's been researched to death and it's a losing proposition that doesn't acknowledge the rules of the system.
You can beat the return of a broad market index just not by paying someone else to do it.
I take it neither of you have ever read "What Works on Wall Street"? crack it open, and tell me it's impossible to beat the market.
Just because lazy people advocate buying index funds doesn't mean it's automatically the best choice.
If you're just satisfied with mediocrity, then fine, do it. However one trait of successful humans is that they seek to improve upon the status quo.
Process means nothing if it doesn't have good returns. You can have the best analysts and if something goes wrong, you still have good "process" but you'll have peanuts to show for it.
At the end of the day, what matters? Your returns - that's why people invest.
I have trouble taking seriously any "serious investor" that invests in a fund and expects to beat the market. It's been researched to death and it's a losing proposition that doesn't acknowledge the rules of the system.
You can beat the return of a broad market index just not by paying someone else to do it.