The Templeton Growth Fund has an outstanding long-term track record. But investors of the legendary investor needed a lot of patience. With the fund he did not outperform the market during the first 14 years.
Web Source: Smead, C.: “Academia vs. The Real World – Part 1”, Smead Capital Management,
11 December 2018, https://smeadcap.com, Link to the article
Comment: Today, such a fund would be liquidated after a few years of underperformance. But this example shows how important it is to stick to a chosen strategy.