The Disadvantages of Old Time Value Investing

Some of the old time value investors, and I guess Warren Buffett has to be in that group, have done fairly well for themselves. The average active growth investor underperforms the averageValue index fund by about 1.5%. Even though they're both underperforming the index, at least they're less underperforming than you are. So the message I left them is don't be so righteous because the average growth investor actually does much better.