
Wall Street Secret #714: Why Active Investing Underperforms
Money Tree Investing
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The Cost of Owning a Passive Index
The SPIBA study shows that 90% of large cap fund managers underperform the S&P 500 over the long term. If somebody's going to beat the market, I'll pay them whatever the fee is as long as they beat the market by more than that fee. But if you've identified a manager that has beaten the S-P 500 recently, you might want to pay the higher fee for that manager.
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