Amid the current effervescence, some investors are questioning whether they want to be the very-top performer, given the extra risk they’d have to take. The $630 million Diamond Hill corporate credit fund is beating 99 percent of its peer group for three years, according to performance data compiled by Bloomberg, but portfolio manager John McClain is more than happy to give up the front-of-the-class mantle right now.
“If you had a great 2007, that turned out to be something to be ashamed of," McClain said. "Fear of missing out in a strong market is pretty dangerous. A lot of that is going on now.”
This article was provided by Bloomberg News.