contrarian strategy

it says:

past performance is often no guarantee of future performance. In fact, a contrarian strategy often works as well with managers as it does with stocks.

i understand the first sentence. but i dont understand the second setence. i dont get the meaning of contrarian in this context? how is contrarian related to the fact that past performance is no guarantee of future performance? contrarian means investing agains the tide…

a manager may have performed poorly in the past - but u go against the tide and still select him …

On the other hand, some managers have bad performance because they’re bad managers.

You pays your money and you takes your chances.