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Active Investment Management - Is There a Competitive Advantage?
In the 19 sixties there were less than five thousand people in the active investment management business. Today, charley says that 99 % of all trading to day is done by computers. And most of the investors behind those computers are highly skilled and have instant access to information. So back then, sure, maybe if youre you'rean active manager, there are willing losers to exploit. But you had no technology either back then to get the information.