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The Typical Active Fund Manager Underperformed the Market
The typical active fund manager under performed the market, which means they actually did worse than monkeys throwing darts at a dart board. After you charge high fees, you might actually be worse off than just owning the market at a loafy sice. The invisible trade off was in social media, you know, the giving up privacy, what you see in the ernetand and all thatall that good stuff. It's only starting about 20 18 when larry thinks it all right, look, we can use this voting power to advance certain social agendas and burnish my own social standing by doing so. That's really when this story took a dark turn.