Chapter Eight
Selecting Long-Term
Winners
-
Don’t Look for the Needle—
Buy the Haystack.
SELECTING WINNING FUNDS in advance is more diffi-
cult than it looks. Sure, there are always some winners
that survive over the years. And if we pore over records
of past performance, it is easy to find them.

Chapter Eight Selecting Long-Term Winners - Don’t Look for the Needle— Buy the Haystack. SELECTING WINNING FUNDS in advance is more diffi- cult than it looks. Sure, there are always some winners that survive over the years. And if we pore over records of past performance, it is easy to find them.

Selecting Long-Term Winners

To Paul A. Samuelson, professor of economics 
at Massachusetts Institute of Technology, 
Nobel Laureate, investment sage.
In 1948 when I was a student at Princeton 
University, his classic textbook introduced me 
to economics. In 1974, his writings reignited my 
interest in market indexing as an investment strategy.
In 1976, his Newsweek column applauded my cre-
ation of the world’s first index mutual fund. In
1993, he wrote the foreword to my first book, and
in 1999 he provided a powerful endorsement for my
second. Now in his ninety-second year, he remains
my mentor, my inspiratio

Arts

Books

To Paul A. Samuelson, professor of economics at Massachusetts Institute of Technology, Nobel Laureate, investment sage. In 1948 when I was a student at Princeton University, his classic textbook introduced me to economics. In 1974, his writings reignited my interest in market indexing as an investment strategy. In 1976, his Newsweek column applauded my cre- ation of the world’s first index mutual fund. In 1993, he wrote the foreword to my first book, and in 1999 he provided a powerful endorsement for my second. Now in his ninety-second year, he remains my mentor, my inspiratio

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Selecting Long-Term Winners

Selecting Long-Term Winners