1 reply to this topic

[nimblebear]

http://www.bloomberg...refer=exclusive

Interesting philosophy.

[OEXCHAOS]

It's funny. Active managers are a value and often out perform passive managers. They also create opportunity. Passive "managers" (if they deserve the title) provide liquidity for even the worst crap. At least they were a partial bid for NEW, for instance. Me, I understand that a lot of the benefit of investing comes from nearly random money flows and shifting sentiment. If you're a taxable investor with some good sense, you're going to want to hold for periods longer than you can accurately predict those shifts. The benefits of diversification (rather than over-diversification) begin to come into play much more while any given stock picking skill decreases in importance. Mark