Mark Hulbert has an article at Asia.com about newsletter results over a 45 year period. Valuline came second with a CAGR of 15%.

In the article he says:



The Ingredients for “Success”

What is this “something else”? After closely studying investment newsletters for 25 years, I have come to the conclusion that it is the patience and discipline to follow a strategy through those (hopefully short-lived) periods in which it is out of synch with the market. Without this patience and discipline, advisers are tempted to second-guess their strategies at the first signs of market-lagging performance. They sell stocks they should be holding and buy stocks that have run up too far and would probably better be sold. In addition, their constant second guessing greatly increases transaction costs.


I personally have struggled with this.

Aussi



https://www.aaii.com/journal/article/lessons-of-th...

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