Specialists Outperform Generalists

When it comes to specific assignments, specialists typically outperform generalists. Consider the 2008 Beijing Olympics, when we compare the performance of the gold medal-winning decathlon champion with the individual event champions, the individual specialists won every time. Why should investing be any different? A manager skilled at managing investments in U.S. equities won't necessarily be best at managing a global bond portfolio. Russell not only combines multiple specialists in simple packages, but they constantly monitor their performance. We think it's an approach worth championing!

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