Intuitively, most people would think that portfolio management should be more science than art right? After all, the two words: portfolio and management just sound so scientific! In reality, portfolio management is probably more art than science. Yet most professional fund houses like to approach portfolio management scientifically. Hence the no.s speak for themselves. 80% of all portfolio managers cannot beat an index like the Straits Times Index, or the Dow Jones. Good portfolio managers* are a unique breed. Especially those who had been humbled by the markets time and again. They spent their entire careers learning about markets, trying to beat the index only knowing that they somewhat succeeded because they never let cocksureness get into their heads. Their faces seem to show their market war stories and they never truly smile. The pic below shows Stan Druckenmiller, #2 for George Soros and probably one of the best...