Ещё один профи задаёт «неудобный» вопрос своим коллегам по цеху (активных управляющих). Ну-ка: данные в студию!
Мне близка такая честность.
Что скажут наши местечковые — что есть у них в защиту своих высоких комиссий??
A key issue facing the investment management business (and one largely ignored despite its gravity) relates to investment philosophy. The vast majority of investment advice presumes (without supporting evidence) the validity of active management. Most of the terrific market-related blogs I read regularly (such as those of Barry Ritholtz, Josh Brown and many others) make a similar presumption — they’re in the active management business after all — without defending it. Can they? Will they? These blogs have strong opinions on most subjects in our business and articulate criticisms of those who, in their view, do things wrong. But they are oddly silent (at least as far as I can tell) about the fundamental basis of what they do despite a great deal of evidence suggesting that they may well be wrong.
It seems to me that anyone in the active management business ought to be able to defend the process of active management with…
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