For most investors, the hunt for the next multibagger never really ends. The focus is often on finding the best-performing stock, fund or theme before everyone else does. But history suggests that identifying tomorrow's biggest winners in advance is far more difficult than it appears in hindsight.
So, should investors spend less time chasing the next big winner and more time building portfolios that can withstand market crashes, long periods of underperformance and the unexpected disruptions of real life?
