Does earning top-level returns over, say, 20 or 25 years show that a manager is among the most skilled people in the field?
A manager who has top-level returns over decades — Richie Freeman of the Legg Mason ClearBridge Aggressive Growth fund — also warned against putting too much weight on the past.
At each level, an independent quadruple sum is carried out over the possible productions of that generation, so that eventually the top level of R returns an average of the final population size taken over all possible intermediate population histories weighted by their likelihood.
"When he is at his best in ball striking, having a very good day, he is probably one of the guys at the top level who is returning the least amount of energy back into his own body," Vanmeerbeek said.
When he left for the US at the age of 31, few thought he would be back to play at the top level in Europe yet he returned for two spells on loan with Milan and a swansong in the French capital with Paris St Germain.
Toulon, based in a Mediterranean port city down the coast from Marseilles, won the last of its three French national championships in 1992, and it returned to the top level of French rugby only five years ago.
Day's return to the top level after a period in which he lost his way is welcome; he may have cut a forlorn figure walking off the final green but it is impossible to deviate from the sense that his major time will come.
With six matches of the normal season to run, the Easter congestion almost upon us and Southampton – the only club above Reading – having been issued a reminder to take nothing for granted in the painful form of three unanswered goals at Blackpool, McDermott and company still have much to do to earn an automatic return to the top level, at which they spent the 2006/7 and 2007/8 seasons.
"If he does that, he can win and return to the top level.
Calmness under pressure and a refusal to allow rare misjudgements to affect his form mean that Gordon has returned to the top level of the game with barely any period of readjustment.
The car marked Porsche's first return to the top level of sports prototype racing since the firm abandoned its Porsche LMP in 1999.
