Bridge over ocean
1 July 1996 Financial Analysts Journal Volume 52, Issue 4

Does the Emperor Wear Clothes or Not? The Final Word (or Almost) on the Parable of Investment Management

  1. Philip Halpern
  2. Nancy Calkins
  3. Tom Ruggels

A goal of many institutional investors is hiring active managers that will consistently beat the market. The question is, how can such managers be identified in advance? This article documents one institutional investor's experience with manager selection and offers some thoughts about why successful manager selection is such a challenge.

Read the Complete Article in Financial Analysts Journal Financial Analysts Journal CFA Institute Member Content

We’re using cookies, but you can turn them off in Privacy Settings.  Otherwise, you are agreeing to our use of cookies.  Accepting cookies does not mean that we are collecting personal data. Learn more in our Privacy Policy.