Opinion: When the ‘smartest’ minds on Wall Street pick their top investments, run the other way - MarketWatch

1. Top investments favored by managers returned lower than underweighted assets. 2. Funds overseeing $600 billion show similar biases in asset selection. 3. Manager sentiment tends to peak when asset prices are highest. 4. Gold's historical performance reflects current market misunderstandings by managers. 5. Patterns suggest tactical shifts could benefit undervalued sectors in 2025.