How the investor is lost in the active versus passive debate
Let's start a debate about how best to construct portfolios that meet the needs of our clients, and that can withstand the test of time through all market conditions.
Why is active losing out to passive? It's because most active managers have a dual mandate to serve both institutional and retail investors. The mandates, or expectations, of these two types of investors are vastly different, and they are in direct conflict. This conflict creates failure in the eyes
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