Where is your focus in your investment returns?

Are you focussed on absolute return and capital preservation?

Or, are you more focussed on relative return to a certain benchmark?

Perhaps you are more focussed on one or the other at different market environments. Certainly these are food for thoughts.

But then, it was also ridiculous to an individual investor, for his fund manager to talk about beating a certain market benchmark during the recent severe bear market when the absolute return of the fund was negative and the capital was also down by a large amount!