asianautica, you stated that “I just don’t believe the theory that it’s that much harder today vs 20 years ago.”
Maybe if your name is Carl Icahn, infamous corporate raider and green mailer that put Rev Jackson’s blackmail to shame, life is easier because of the vast capital to throw around and raid the cashbox. Or the private equity managers that took companies private in 2003-05, took out massive debt, fired a bunch of people, paid themselves billions in “fees” and took companies public with no cash.
For the small investor, its tougher now than in the 80’s since you are competing with the likes of Icahn, massive pension funds, etc, basically people who don’t care about spending or losing other people’s money. Too much money chasing poor returns, inflation, etc.
Most fund managers cant throw a candle to Peter Lynch from 77-90 with 29% annual return. Closest now is FPA head Robert L. Rodriguez, return of 13-15% over last 20-24 years. If it’s so much easier now, please share your secret to great returns besides my patented plan, sell your house and buy QCOM. 🙂
