2022 Top Performers
We tracked the Top Performers from January 3rd 2022 - January 3rd 2023.
Click here to download the Top 100 Performer List from the past year!
Kiplinger published the Top-Performing Mutual Funds by Category. We added the type of fund and attached links so you can learn more.
View our Kiplinger Top-Performing Mutual Fund List Here.
The Wall Street Journal Best Stock-Fund Managers of 2022
The Pleasure of Finding Things Out
“I can live with doubt and uncertainty and not knowing. I think it's much more interesting to live not knowing than to have answers that might be wrong.” ―Richard P. Feynman
One of the best parts of investing occurs when hard work becomes insight. You might start researching something, and, the more you dig, the more you realize you don’t know and don’t understand—until the proverbial light bulb turns on and you figure things out.
This realization might come from understanding a company’s competitive advantage. It might come from understanding how a business truly makes money. It might come from understanding why a business is currently losing money.
Whatever the topic, the answer was knowable. It just took some time to learn the truth.
But, sometimes, there are no answers. Or the answer is that there is no answer, no plan.
Venture capitalist Marc Andreessen touched on this topic in a recent Tweet:
Even in the most optimistic scenarios of green energy adoption, independent energy agencies still predict rising demand for oil over the coming decades. How will we produce enough energy to meet the demand of everyone looking to raise their standard of living? How will we produce enough metals needed to green the economy, not to mention make more of things we’ll already need?
There are plenty of opinions on how it will be solved, but no real plans once you go through the numbers. Many say it’ll happen because of “innovation,” without much further detail.
The truth, we think, is that we don’t know the answer to these questions. There are no great plans to the important questions above. We can all have certain beliefs on the matter, but as financial columnist Jason Zweig has written, “Separating what you believe and what you know may be the most intellectually difficult aspect of investing.”
Sometimes it takes a lot of time searching for an answer to realize that there is no answer—at least not yet. And that realization—that the truth is no one knows—should still give you the pleasure that you’ve figured things out.
“We absolutely must leave room for doubt or there is no progress and there is no learning. There is no learning without having to pose a question. And a question requires doubt. People search for certainty. But there is no certainty. People are terrified — how can you live and not know? It is not odd at all. You only think you know, as a matter of fact. And most of your actions are based on incomplete knowledge and you really don't know what it is all about, or what the purpose of the world is, or know a great deal of other things. It is possible to live and not know.” ―Richard P. Feynman
Tweets of the Week
In Case You Missed it…
Thinking about how to think: Short-term vs long-term
Guide to the Markets - J.P. Morgan Asset Management: 1Q 2023
Ryan Petersen on The Great Recession That's Coming to Global Shipping (video)
Value Investing with Legends Podcast: Mitch Julis - Finding the Opportunity in Complexity
Masters in Business Podcast: John Mack on Life Lessons From Financial Crisis
Sudden Cardiac Death in Athletes — Lessons From My Reporting - by David Epstein
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