The legendary Wall Street fund manager is already a well-known manager with many years of experience. He has always insisted on making low-valued stocks, which is completely within a reasonable range from the perspective of PE and PB. The undervalued stock is one that he thinks has relatively low risk. Even if there is not enough high return for a long time, it will not be too risky and can enjoy dividends. But I didn't expect that in February this year, because the fund he managed performed better, many holders redeemed it.

After the liquidation of his fund, he was in a bad mood and didn't expect to jump off the building. To tell the truth, in this impetuous society, many people and many things will have accidents. Undervalued stocks are of course low risk, but they are not perfect. Since he chose low risk, it is impossible to have a very large flexible return, and the return will not be too high, which is within the predictable range, but it is difficult for people to completely ignore the external views because he is a fund manager.

As a result, many investors did not believe him and chose to withdraw from the fund he managed. I think the biggest blow to him is the liquidation of the fund. People who believe in him are actually not enough to support him to continue his business. This is too sad for a fund manager, but to be honest, people in every era have different ideas.

Maybe people are more tolerant of risks now, so they tend to buy funds with high risks and great flexibility. It's not that they don't recognize the ability of fund managers, mainly because the risk appetite has changed. Nowadays, many young people buy funds, and the risk preference of young people is much greater than that of middle-aged people, so this is really a pity. Few fund managers can stick to the track of their own recognition without external interference, but this situation still happens.