If investors and their advisers expect and believe a fund manager will win all the time, writes Nicola Cornish, they are destined to be disappointed - no manager wins all the time and Neil Woodford is no exception
In times such as these, we must remind ourselves that no fund manager can win all the time - it is just not possible. Periods of underperformance are statistically normal and to be expected - in fact, not only should these periods be expected, they should also be planned for and managed with discipline. Certainly, some managers outperform more often than others and beat their respective market more consistently and Neil Woodford has been a part of this exclusive group for some time, cementing himself as one of the best stockpickers in the business. Having begun his career in 1987, Woo...
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