Tuesday, April 23, 2013

The Ulysses lesson!

"Ulysses had the crew bind him to the mast of his ship to protect him from the call of the Sirens. Money managers, especially when feeling a loss of predictability and control, are drawn to short-term activity. Like Ulysses, money managers should take the steps necessary to focus on the long term if they are to optimize long-term fund performance. If the source of stress is largely psychological, so too is the means to cope with it."
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