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Rekenthaler Report

Buy the Best, Perform the Worst

And vice versa.

Right Idea, Wrong Time
Earlier this week, for an upcoming feature on investor returns in Morningstar Magazine, I participated in a discussion with Morningstar's Russ Kinnel and Rayliant Global Advisors' Jason Hsu. The latter presented a counter-intuitive argument: When buying value funds, investors should seek funds with bad recent performance.

Hsu is correct, but the idea takes some unpacking.