John Husselbee: Persisting with unicorns

Patience must be a watchword

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John Husselbee of Liontrust
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John Husselbee of Liontrust

In more than 30 years of analysing fund managers across the world, one of the most important lessons I have learned is consistency of performance is close to impossible over any decent timeframe.

Despite this, and repeated warnings about relying on past performance as a measure of future success, we continue to see a raft of studies based on consistency, showing which managers have been able to...

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