Despite the evidence that past performance is no guide to future performance, investors continue to seek portfolio managers and stock pickers who appear to consistently outperform the market.

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In our recent conversation with Craig Lazarra of S&P Dow Jones Indices, he explained why it is so hard for active fund managers – or any investor – to consistently outperform the market in which they invest. In this fascinating follow up, he explains:

• Why we continue to believe that past performance will persist (despite warnings and evidence to the contrary)

You can access this and previous episodes of the Your Wealth podcast now on iTunes, Podbean or at nabtrade.com.au/yourwealth

If you are pressed for time, consider listening at 1.5x or 2x the usual speed – this can actually improve your retention of information while saving time.