Quote:
Originally Posted by Peter_Spaeth
Good reading, thank you. I particularly thought this was well put, in the Rekenthaler piece:
Active managers do set efficient security prices. They do help global markets to function smoothly. But there's no particular reason why you need to own them.
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I'm not a professional, but I do study this topic and it appears in the data that on broad large-cap funds, it's very hard to beat the market in the long term, but with small-cap funds you do see many managers beating their index.