Josh Brown had a blog post today, with excerpts from the latest SPIVA Scorecard produced by S&P Dow Jones Indices. Across the board, comparing actively-managed funds to their benchmark indices, it is not pretty for any market cap one chooses.
“The large cap space is too competitive so active managers do a much better job in small caps, where their skills add value.”[JB] You’ve heard that before. A lot. Except it isn’t true. At least not over any length of time that actually matters. [...] I wish it weren’t so, but it is what it is.
http://thereformedbroker.com/2015/03/12/another-bulls-myth-debunked/Thanks, Josh (once again).
