What works?

Mauldin talks about looking for money managers. He's looking for real world results, yet says past performance is not indicative of future results.

That sounds contradictory. So he's looking for real world results plus something else.

"What do Finn and his team tell us does work? Fundamentals, fundamentals, fundamentals. As they look at scores of managers each year, the common thread for success is how they incorporate some set of fundamental analysis into their systems.

Great track records are not enough. I am going to need to know how you made that track record and then why."