'Past performance is no guarantee of future results,' charted 📊

Winning fund managers rarely keep winning 📉

It’s incredibly difficult to construct a portfolio of stocks in a way that beats the benchmark.

Last month, I reported on S&P Dow Jones Indices (SPDJI) data that showed more than half of U.S. large-cap equity funds underperformed the S&P 500 during each of the last 12 consecutive years.

On Wednesday, SPDJI published their latest Persistence Scorecard, whi…