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Fundology: The Secrets of Successful Fund Investing by John Chatfeild-Roberts

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5. What can past performance tell you?

”Life has no rehearsals, only performances.”

Anon

Mirror, mirror on the wall

When you look in a mirror, what do you see? You see a reflection of yourself. When you look in your car’s mirror, what do you see? With any luck what is behind you. When you look at the past performance of a fund, what do you see? You see what has happened to the fund. What you don’t see is what will happen in the future. However if you look carefully, and know where to look, I believe that it is possible to pick up clues as to what might happen next – and that is one of the keys to investing in funds.

When someone buys a fund, on what rational basis do they do so? Do they like the brand of the company and have faith in ...

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