Why Upgrading Works
Upgrading is the continuous process
of moving incrementally toward market leadership as it develops.
It’s impossible to forecast the next market leaders
since market trends are only truly clear in hindsight.
Market leadership
changes because economic conditions change. Money managers use
an investment style that works well in some, but not all market
environments. In fact, few, if any money managers consistently
excel, because they are unable to change investment styles to
match the changing economy.
With Upgrading, we don’t
need to predict which funds will be the next
leaders: all we have
to do is stay flexible and move to
the top-performing funds. The highest ranked
funds in the current market environment are those who have
gotten it right.
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