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Why past performance does not predict future results

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Moore, Byron 2016.jpg

Question: Why do all the investment commercials say that past performance is no indication of future performance (or something like that)?

That doesn’t make sense to me.

Real life isn’t like that — in my business; you’re evaluated on results.

Answer: Imagine you’re a football coach. You’ve just called a play in which your quarterback is supposed to take the ball, pitch it out to the running back sweeping to the right and hopefully gain five or 10 yards.

Unfortunately, at the snap of the ball, the quarterback fumbles.

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