Cullen Roche gives his take on a recent Richard Bernstein podcast;
“A sub optimal strategy that you can execute is better than an optimal strategy you can’t execute.”
" As Bernstein said, the sub optimal strategy that you remain loyal to is likely to beat the optimal strategy that you cheat on. But how do we capture behavioral alpha?"
Probly could also apply to individual funds I invest in. The fund may have great long term returns but can I be disciplined to stay the course? And as my time horizon changes my investment horizon should change as well.https://www.pragcap.com/important-investment-factor-behavior/