Personal Finance

The Tell: A good stock picker’s market doesn’t mean good stock-picking returns

Volatility is back in the market and the so-called “rising tide” environment, where stocks move in tandem to an unusual degree, seems to be ebbing. It’s a good time to be a stock picker, right? Not so fast.

“Greater diversity of opportunity is a good starting point for active managers who seek to beat index-tracking portfolios, but the active managers still need to pick the securities moving in the correct direction.”