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Eugene Fama: Active Management And The Bigger Pie Theory

FYI: Many smart people have spent years trying to explain exactly why active management can't keep up with the investment indexes. Leave it to Eugene Fama, the University of Chicago researcher and Nobel Prize winner, to make things painfully simple.
Regards,
Ted
http://www.marketwatch.com/story/eugene-fama-active-management-and-the-bigger-pie-theory-2014-09-25/print
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