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6 May 2017 (AFR) - Passive investing is lobotomised investing

(6 May 2017, AFR, p25, by Christopher Joye)

‘Buying a “passive” or “indexed” fund is lobotomised investing, predicated on the beliefs that the market is smarter than you are, investors are systematically rational, assets are always properly valued as prices move in an unpredictable “random walk” and, finally, one has no ability to identify those “active” managers that do consistently beat benchmarks. 271 more words

8.Was Sticky

‚Äč”I don’t believe anyone wants to hear what I have to say.”

—Eugene Fama.

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