Is the Day of Passive Investing Over?

We don't know how long this period lasts and nobody knows. I think that the degree to which it's disturbed the world and changed habits and endangered businesses in the last couple of months indicates that you better not be too sure of yourself about what it'll do in the next six months or year or whatever. It's like Dr. Fosse. The virus is going to determine our behavior. And we're doing a lot of smart things, and we've got a lot of very smart people. But there are unknowns. That doesn't mean there was a better course of action.