Yesterday’s announcement that U.S. President Barack Obama is this year’s Nobel Peace Prize recipient is just too amazing to pass up. The beauty of investment performance measurement is that it’s non-subjective … we measure results mathematically. Granted, we might disagree on the methodology, but we still use numbers. Subjective measures are much more difficult and are often subject to bias. I think we’re witnessing such action right now.
But, I won’t say any more than that. I will let Peggy Noonan do the talking: http://online.wsj.com/article/SB10001424052748703746604574464083239280914.html.
p.s., out of fairness, here’s a different view on this topic: https://www.youtube.com/watch?v=GMJuEOaF84o