Excerpt:
It’s a Bridgeway tradition to include a description of the “Worst Thing of the Fiscal Year” in our annual report. In past reports we’ve cited mistakes we made, as well as factors that were outside of our control. But while reviewing the last 12 months we struggled to find an issue or development negative enough to merit discussion here.
We guess that’s a good thing and something we should celebrate. However, we’re also celebrating the 20th anniversary of the founding of our mutual funds, and this milestone gave us the chance to reflect on one of our longstanding goals: helping investors close the “behavior gap.” This phrase describes the fact that investors tend to sabotage their potential returns by making bad investment decisions based on emotion. Unfortunately, we have made little progress in addressing this problem over the last two decades — hence our decision to name our lack of headway on addressing the behavior gap the “Worst Thing” for the fiscal year.
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How does Bridgeway try to help investors close the behavior gap? It is just through "educating" their clients about market timing?
