The stock gurus ain’t what they used to be. In the last few weeks, we have discovered that John Paulson, one of the few money managers to emerge from the subprime debacle with his reputation enhanced, is just as fallible as the rest of us. Over here in London, one of the U.K.’s best-known fund managers, Fidelity’s Anthony Bolton, is struggling with a much-hyped investment trust.
It doesn’t seem that anyone can make the kind of money consistently that stars like George Soros, Warren Buffett or Julian Robertson could in the past. Maybe that’s just bad luck. Then again, maybe something more interesting is going on. We may be entering an era when there aren’t any real stock gurus anymore — in the sense of exceptional individuals who can consistently beat the market.
The volatility of the last few months has certainly created some high profile casualties…
Read all about it at http://www.marketwatch.com/story/stock-gurus-arent-what-they-used-to-be-2011-10-12
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