Investments > Stocks and Shares Isas

Are successful fund managers just plain lucky

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The Prophet:
It is very likely that the "better performing" fund managers are just lucky.
Out of 1,188 UK funds only 16 have managed top-quartile performance in the last three years.
Using statistics alone, a quarter or a quarter or a quarter must statistically be in the top quartile in all three years. 
That would be 1.56% or 18 funds.

Banjo:
I have often thought that picking shares has a degree of luck about it.
Unlike gambling, unless the company goes under, at least you still have a chance of the shares coming good.

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