This Fund Manager Has Consistently Beaten the S&P 500 for 40 Years
Albert Nicholas gave up a chance to play professional basketball to instead play the stock market.
Jenn Ackerman and Tim Gruber/Bloomberg MarketsAlbert Nicholas is well aware that some prominent academics say stock pickers can’t beat their benchmarks over the long haul. He doesn’t have a Ph.D., yet he has good reason to disagree, Bloomberg Markets magazine will report in its April issue.
The Nicholas Fund, which he has run since 1969, has topped the Standard & Poor’s 500 Index by an average of 2 percentage points a year for the past 40 years and has beaten it every year since 2008. If you think that doesn’t make a big difference, consider this: A $10,000 investment in the Nicholas Fund in September 1974 was worth about $2 million in September 2014, roughly twice the value of the same investment in the index.