What Does a Winning Streak Tell Us?
The following article was written by Weston Wellington of Dimensional Fund Advisors and published on 11/29/2011. It discusses the fallacy in trying to pick managers to outperform the stock markets. Bill Miller is one of the most closely watched money managers in the industry, so it was big news when he announced his decision last week to step down as portfolio manager of Legg Mason Capital Management Value Trust (LMVTX) early next year. His departure also adds an intriguing