The persistent problem with past performance

As all investors know there are lies, damned lies and past performance statistics. What the academics and statisticians seem unable to agree on is whether past performance has any value. As first reported in last week's Investment Week, Autif has research which concludes that it can have value and previous work suggesting otherwise is flawed. Immediately after this Virgin issued a statement arguing the association's research was itself incorrect. Virgin, had previously commissioned a report on past performance, and this conclusively proved that past performance is not a guide for the ...