Is 8 percent annual return over the last 3 years any good?

When clients ask “What’s the performance?” they never consider RISK. The proper way to think about it is Return/Risk, like Miles/Gallon. That’s why they will always jump at advertisements that make big promises and chase funds that got a lucky short-term percent return — end up broke like everyone else.
My favorite, Michael Cembalest — the only guy who acts on the Madoff red flags — tells it like it is. (Nothing displayed below?)
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