--- title: "Meaning & Key Takeaway of: Often, investors will discover a manager…" description: "\"Often, investors will discover a manager after he's had a terrific run, usually when he lands on a magazine cover somewhere. Invariably, funds swell up..." image: "https://sms4smile.com/quotes/i/f10/barry-ritholtz-5065_after_often-investors-will-discover-a-manager_3075750.jpg" --- # Often, investors will discover a manager after he's had a… ![“Often, investors will discover a manager after he's had a terrific run, usually when he lands on a magazine cover somewhere. Invariably, funds swell up with new investor money just before they revert to their long-term averages.” quote by Barry Ritholtz](https://sms4smile.com/quotes/i/f10/barry-ritholtz-5065_after_often-investors-will-discover-a-manager_3075750.jpg) [Download](https://sms4smile.com/quotes/i/f10/barry-ritholtz-5065_after_often-investors-will-discover-a-manager_3075750.jpg) [Open image](https://sms4smile.com/quotes/i/f10/barry-ritholtz-5065_after_often-investors-will-discover-a-manager_3075750.jpg) > “Often, investors will discover a manager after he's had a terrific run, usually when he lands on a magazine cover somewhere. Invariably, funds swell up with new investor money just before they revert to their long-term averages.” [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Investors often chase managers after a strong performance, leading to inflows that precede a reversion to average returns. **In simple terms:** Investors chase past winners, causing money to flow in before performance normalizes. Key Takeaway Beware of hype; evaluate fundamentals over recent success. Themes investment behavioral finance performance cycles market dynamics Mood analytical cautious informed Type financial educational strategic When to use this quote - portfolio construction - risk assessment - fund selection - financial advising Key Concepts herding mean reversion fund flow dynamics Questions to Reflect On - How do you differentiate sustainable skill from temporary luck? - What metrics help you assess long‑term manager quality? A Different Perspective Past performance may not predict future results, and timing inflows is difficult. ★ ★ ★ ★ ★ No ratings yet [After](https://sms4smile.com/quotes/about/after/) [Before](https://sms4smile.com/quotes/about/before/) [Cover](https://sms4smile.com/quotes/about/cover/) [Customer](https://sms4smile.com/quotes/about/customer/) [Discover](https://sms4smile.com/quotes/about/discover/) [Funds](https://sms4smile.com/quotes/about/funds/) [Funds Swell](https://sms4smile.com/quotes/about/funds-swell-5223871/) [Had](https://sms4smile.com/quotes/about/had/) [He](https://sms4smile.com/quotes/about/he/) [Invariably](https://sms4smile.com/quotes/about/invariably/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investor](https://sms4smile.com/quotes/about/investor/) [Investor Money](https://sms4smile.com/quotes/about/investor-money-486384/) [Investors](https://sms4smile.com/quotes/about/investors/) [Investors Discover](https://sms4smile.com/quotes/about/investors-discover-5223870/) [Just](https://sms4smile.com/quotes/about/just/) [Lands](https://sms4smile.com/quotes/about/lands/) [Long term](https://sms4smile.com/quotes/about/long-term/) [Magazine](https://sms4smile.com/quotes/about/magazine/) [Management](https://sms4smile.com/quotes/about/management/) [Manager](https://sms4smile.com/quotes/about/manager/) [Money](https://sms4smile.com/quotes/about/money/) [New](https://sms4smile.com/quotes/about/new/) [Often](https://sms4smile.com/quotes/about/often/) [Run](https://sms4smile.com/quotes/about/run/) [Somewhere](https://sms4smile.com/quotes/about/somewhere/) [Swell](https://sms4smile.com/quotes/about/swell/) [Terrific](https://sms4smile.com/quotes/about/terrific/) [Up](https://sms4smile.com/quotes/about/up/) [Will](https://sms4smile.com/quotes/about/will/) ## Related quotes > [We are seeing a lot of cases where the startups are writing the term sheet, dictating the terms, selling common stock instead of preferred…](https://sms4smile.com/quotes/naval-ravikant/we-are-seeing-a-lot-of-cases-where-the-startups-are-writing-the-term/) [Naval Ravikant](https://sms4smile.com/quotes/author/naval-ravikant/) > [The institutional investor remains the bigger influence on individual trades simply because the institutional investor has more money to support the order and that…](https://sms4smile.com/quotes/maria-bartiromo/the-institutional-investor-remains-the-bigger-influence-on-individual/) [Maria Bartiromo](https://sms4smile.com/quotes/author/maria-bartiromo/) > [If I were to spend investor money on nice furnishings and so forth, particularly early on, I might not have it for opportunities that…](https://sms4smile.com/quotes/eric-yuan/if-i-were-to-spend-investor-money-on-nice-furnishings-and-so-forth/) [Eric Yuan](https://sms4smile.com/quotes/author/eric-yuan/) > [We hope that the elected officials will respond positively to a ground swell of letters, phone calls, e-mails and visits from parents. The law…](https://sms4smile.com/quotes/anonymous/we-hope-that-the-elected-officials-will-respond-positively-to-a/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Nowadays you can't tell, watch the crotch, it may swell.](https://sms4smile.com/quotes/dj-quik/nowadays-you-can-t-tell-watch-the-crotch-it-may-swell/) [DJ Quik](https://sms4smile.com/quotes/author/dj-quik/) > [“I allowed him to curse at me aloud My sorrows swelled bigger in size so did my sighs… From the poem- FROM THE FERRY…](https://sms4smile.com/quotes/munia-khan/i-allowed-him-to-curse-at-me-aloud-my-sorrows-swelled-bigger-in-size/) [Munia Khan](https://sms4smile.com/quotes/author/munia-khan/) > [“The beginning of an attack I always experienced as a swell lurching up from unseen depths, similar to the physical sensation of standing waist-high…](https://sms4smile.com/quotes/glenn-haybittle/the-beginning-of-an-attack-i-always-experienced-as-a-swell-lurching/) [Glenn Haybittle](https://sms4smile.com/quotes/author/glenn-haybittle/) > [Peppers, garlic, hazelnuts and brazil nuts make my mouth, tongue and eyes swell and itch within minutes of eating them.](https://sms4smile.com/quotes/andrea-mclean/peppers-garlic-hazelnuts-and-brazil-nuts-make-my-mouth-tongue-and/) [Andrea McLean](https://sms4smile.com/quotes/author/andrea-mclean/) > [Well, Pluto, here we are. Now for a swell vacation.](https://sms4smile.com/quotes/anonymous/well-pluto-here-we-are-now-for-a-swell-vacation/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [I lose my mind if I miss a swell that I want to be on and I have the ability to be on it.](https://sms4smile.com/quotes/garrett-mcnamara/i-lose-my-mind-if-i-miss-a-swell-that-i-want-to-be-on-and-i-have-the/) [Garrett McNamara](https://sms4smile.com/quotes/author/garrett-mcnamara/) > [“If one was to sting me,” he thought, “I should swell up as big again as I am!”](https://sms4smile.com/quotes/anonymous/if-one-was-to-sting-me-he-thought-i-should-swell-up-as-big-again-as-i/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Thou art slave to fate, chance, kings, and desperate men, And dost with poison, war, and sickness dwell, And poppy, or charms, can make…](https://sms4smile.com/quotes/john-donne/thou-art-slave-to-fate-chance-kings-and-desperate-men-and-dost-with/) [John Donne](https://sms4smile.com/quotes/author/john-donne/) > [It's a perfect wave when small and the most beautiful and scary wave on Earth when it's big, as the swell from deep water…](https://sms4smile.com/quotes/kelly-slater/it-s-a-perfect-wave-when-small-and-the-most-beautiful-and-scary-wave/) [Kelly Slater](https://sms4smile.com/quotes/author/kelly-slater/) > [“And I’d have you know, through all of it, I still had perfect nails! Because I am completely swell.”](https://sms4smile.com/quotes/sarah-scheele/and-i-d-have-you-know-through-all-of-it-i-still-had-perfect-nails/) [Sarah Scheele](https://sms4smile.com/quotes/author/sarah-scheele/) > [As long as my voice is here, and there is a Holiday Inn waiting for me, then everything's just swell.](https://sms4smile.com/quotes/tiny-tim/as-long-as-my-voice-is-here-and-there-is-a-holiday-inn-waiting-for-me/) [Tiny Tim](https://sms4smile.com/quotes/author/tiny-tim/) ## More by Barry Ritholtz > [Amongst the financial Twitterati, the term 'muppets' has come to describe any client used and abused by some financial predator. I've adopted the term…](https://sms4smile.com/quotes/barry-ritholtz/amongst-the-financial-twitterati-the-term-muppets-has-come-to/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [It is important for investors to understand what they do and don't know. Learn to recognize that you cannot possibly know what is going…](https://sms4smile.com/quotes/barry-ritholtz/it-is-important-for-investors-to-understand-what-they-do-and-don-t/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [The good news is that economists are intelligent, engaging and often charming folks. The bad news is their work is often of little use…](https://sms4smile.com/quotes/barry-ritholtz/the-good-news-is-that-economists-are-intelligent-engaging-and-often/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [The electronics industry expanded rapidly and the seeds for the semiconductor and software revolution were planted. The postwar period also saw the suburbanization of…](https://sms4smile.com/quotes/barry-ritholtz/the-electronics-industry-expanded-rapidly-and-the-seeds-for-the/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [Footage of people camped out at Best Buy or elsewhere is not remotely a celebration. Rather, it's a reminder of just how economically distressed…](https://sms4smile.com/quotes/barry-ritholtz/footage-of-people-camped-out-at-best-buy-or-elsewhere-is-not-remotely/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [Markets are frequently ahead of, and often out of sync with, the economy.](https://sms4smile.com/quotes/barry-ritholtz/markets-are-frequently-ahead-of-and-often-out-of-sync-with-the-economy/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [Narrative drives most of economics. Everything seems to be part of a story, and how that story is told often leads to critical error.](https://sms4smile.com/quotes/barry-ritholtz/narrative-drives-most-of-economics-everything-seems-to-be-part-of-a/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [This ugly duckling investment will likely need time - quarters, or even years - to blossom into a beautiful swan.](https://sms4smile.com/quotes/barry-ritholtz/this-ugly-duckling-investment-will-likely-need-time-quarters-or-even/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [Yearly data put the rest of the noise into perspective. Most of the weekly or monthly random up-and-down movements get smoothed out. Ultimately, this…](https://sms4smile.com/quotes/barry-ritholtz/yearly-data-put-the-rest-of-the-noise-into-perspective-most-of-the/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > ['Returnless risk' is not how you prepare for a decent retirement.](https://sms4smile.com/quotes/barry-ritholtz/returnless-risk-is-not-how-you-prepare-for-a-decent-retirement/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [A number of bloggers in economics and the financial sector have risen to prominence through the sheer strength of their work. Note it was…](https://sms4smile.com/quotes/barry-ritholtz/a-number-of-bloggers-in-economics-and-the-financial-sector-have-risen/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [TV producers want ratings and are willing to do nearly anything to get them. They gin up artificial conflicts and create an urgency for…](https://sms4smile.com/quotes/barry-ritholtz/tv-producers-want-ratings-and-are-willing-to-do-nearly-anything-to/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [Asset managers have different approaches, and I don't wish to suggest there is only one way to run money. There are many ways one…](https://sms4smile.com/quotes/barry-ritholtz/asset-managers-have-different-approaches-and-i-don-t-wish-to-suggest/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [There is a shortage of doctors, and the American Medical Association is aiming to keep it that way.](https://sms4smile.com/quotes/barry-ritholtz/there-is-a-shortage-of-doctors-and-the-american-medical-association/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [We love a tale of heroes and villains and conflicts requiring a neat resolution.](https://sms4smile.com/quotes/barry-ritholtz/we-love-a-tale-of-heroes-and-villains-and-conflicts-requiring-a-neat/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) [Explore all 103 Barry Ritholtz quotes ](https://sms4smile.com/quotes/author/barry-ritholtz/) ## More After quotes > [At the drop of a hat, people will say there are no roles for women after 40. It's there with a bunch of other…](https://sms4smile.com/quotes/lesley-nicol/at-the-drop-of-a-hat-people-will-say-there-are-no-roles-for-women/) [Lesley Nicol](https://sms4smile.com/quotes/author/lesley-nicol/) > [When my main character in 'Heat' climbs the tower, the highest diving platform, hoping to resume competitive diving after an injury, I am there…](https://sms4smile.com/quotes/michael-cadnum/when-my-main-character-in-heat-climbs-the-tower-the-highest-diving/) [Michael Cadnum](https://sms4smile.com/quotes/author/michael-cadnum/) > [I was strictly after hits when it came down to the Jackson 5. That's all I was concerned with.](https://sms4smile.com/quotes/deke-richards/i-was-strictly-after-hits-when-it-came-down-to-the-jackson-5-that-s/) [Deke Richards](https://sms4smile.com/quotes/author/deke-richards/) > [It's important for American soldiers to be culturally sensitive when deployed in foreign countries. But it's just as important for the U.S. never to…](https://sms4smile.com/quotes/gary-bauer/it-s-important-for-american-soldiers-to-be-culturally-sensitive-when/) [Gary Bauer](https://sms4smile.com/quotes/author/gary-bauer/) > [No lusting after your neighbor's house - or wife or servant or maid or ox or donkey. Don't set your heart on anything that…](https://sms4smile.com/quotes/moses/no-lusting-after-your-neighbor-s-house-or-wife-or-servant-or-maid-or/) [Moses](https://sms4smile.com/quotes/author/moses/) > [After I finished college, I got a job on Wall Street as a derivatives trader, but after a couple years of it, I was…](https://sms4smile.com/quotes/philipp-meyer/after-i-finished-college-i-got-a-job-on-wall-street-as-a-derivatives/) [Philipp Meyer](https://sms4smile.com/quotes/author/philipp-meyer/) > [When good media takes a bounded form, and comes once in a period of time, it begs to be consumed as a whole -…](https://sms4smile.com/quotes/john-battelle/when-good-media-takes-a-bounded-form-and-comes-once-in-a-period-of/) [John Battelle](https://sms4smile.com/quotes/author/john-battelle/) > [Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention and I wouldn't…](https://sms4smile.com/quotes/george-soros/markets-are-designed-to-allow-individuals-to-look-after-their-private/) [George Soros](https://sms4smile.com/quotes/author/george-soros/) > [I have a lot of success and make a good living, but after while, you start going 'Why? Why are you doing all this?'](https://sms4smile.com/quotes/tyra-banks/i-have-a-lot-of-success-and-make-a-good-living-but-after-while-you/) [Tyra Banks](https://sms4smile.com/quotes/author/tyra-banks/) > [See to do good, and you will find that happiness will run after you.](https://sms4smile.com/quotes/james-freeman-clarke/see-to-do-good-and-you-will-find-that-happiness-will-run-after-you/) [James Freeman Clarke](https://sms4smile.com/quotes/author/james-freeman-clarke/) > [I went to school at night in L.A. to brush up on my engineering while I applied to the astronaut program. I really did…](https://sms4smile.com/quotes/mae-jemison/i-went-to-school-at-night-in-l-a-to-brush-up-on-my-engineering-while/) [Mae Jemison](https://sms4smile.com/quotes/author/mae-jemison/) > [Sometimes after a compliment about my characterization skills, I'm asked if I model my characters on real people. Emphatically, no. And sort of, yes.](https://sms4smile.com/quotes/brent-weeks/sometimes-after-a-compliment-about-my-characterization-skills-i-m/) [Brent Weeks](https://sms4smile.com/quotes/author/brent-weeks/) > [After The Wizard Of Oz I was typecast as a lion, and there aren't all that many parts for lions.](https://sms4smile.com/quotes/bert-lahr/after-the-wizard-of-oz-i-was-typecast-as-a-lion-and-there-aren-t-all/) [Bert Lahr](https://sms4smile.com/quotes/author/bert-lahr/) > [I'm pretty cautious and not very athletic, so I've only had really dumb injuries, like sprained ankles and allergic reactions. I did have to…](https://sms4smile.com/quotes/mara-wilson/i-m-pretty-cautious-and-not-very-athletic-so-i-ve-only-had-really/) [Mara Wilson](https://sms4smile.com/quotes/author/mara-wilson/) > [I'd like an omelet named after me.](https://sms4smile.com/quotes/rufus-sewell/i-d-like-an-omelet-named-after-me/) [Rufus Sewell](https://sms4smile.com/quotes/author/rufus-sewell/) [Browse all 3,411 After quotes ](https://sms4smile.com/quotes/about/after/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Often, investors will discover a manager after he's had a terrific run, usually when he lands on a magazine cover somewhere. Invariably, funds swell up with new investor money just before they revert to their long-term averages.", "creator": { "@type": "Person", "name": "Barry Ritholtz" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/barry-ritholtz/often-investors-will-discover-a-manager-after-he-s-had-a-terrific-run/", "about": { "@type": "Thing", "name": "After" }, "@id": "https://sms4smile.com/quotes/barry-ritholtz/often-investors-will-discover-a-manager-after-he-s-had-a-terrific-run/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/f10/barry-ritholtz-5065_after_often-investors-will-discover-a-manager_3075750.jpg", "contentUrl": "https://sms4smile.com/quotes/i/f10/barry-ritholtz-5065_after_often-investors-will-discover-a-manager_3075750.jpg", "url": "https://sms4smile.com/quotes/i/f10/barry-ritholtz-5065_after_often-investors-will-discover-a-manager_3075750.jpg", "width": 1080, "height": 1080, "caption": "“Often, investors will discover a manager after he's had a terrific run, usually when he lands on a magazine…” — Barry Ritholtz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Barry Ritholtz", "item": "https://sms4smile.com/quotes/author/barry-ritholtz/" }, { "@type": "ListItem", "position": 4, "name": "Often, investors will discover a manager...", "item": "https://sms4smile.com/quotes/barry-ritholtz/often-investors-will-discover-a-manager-after-he-s-had-a-terrific-run/" } ], "@id": "https://sms4smile.com/quotes/barry-ritholtz/often-investors-will-discover-a-manager-after-he-s-had-a-terrific-run/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```