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M*: Faint Praise, Indeed, For Active Management

FYI: This month, Charley Ellis published "In Defense of Active Investing." The headline intrigues because Ellis is an indexing legend. In 1975, he wrote that active investing is "The Loser's Game." The article became an instant classic and was later incorporated into the curriculum for Chartered Financial Analysts candidates.
Regards,
Ted
http://news.morningstar.com/articlenet/article.aspx?id=702065
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