Conventional wisdom doesn’t always hold up when you look at the data. You don’t have to drink 8 glasses of water a day, and inefficient markets don’t make it easier for active managers to outperform.
Chris Tidmore, CFA, is a senior investment strategist in Vanguard Investment Strategy Group. Before joining Vanguard in August 2015, Mr. Tidmore was the managing partner of Butcher's Hill Capital, LLC, which managed the Geneva Arbitrage Fund. The Geneva Arbitrage Fund employed both merger arbitrage and event-driven investment strategies. Before the launch of the Geneva Arbitrage Fund, Mr. Tidmore worked as an arbitrage trader, analyst, and portfolio manager for a family-owned holding company. In addition, he was an options trader on the American Stock Exchange. Before his work in the securities industry, he was employed as an auditor, providing audit, accounting, and consulting services to various charitable and governmental organizations. Mr. Tidmore has developed and taught courses in financial accounting, financial statement analysis, asset valuation, equity derivatives, trading, portfolio management, alternative investments, and CFA® and CPA review courses for an extensive list of clients. He also has lectured on various accounting and finance topics to both the CFA Institute and the CFA Society of Philadelphia. Mr. Tidmore earned a B.S. in accounting at the University of Delaware. He is a CFA charterholder and is a past president of the CFA Society of Philadelphia.
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