FYI: Do as I Say
Richard Thaler, the 2015 president of the American Economic Association, agrees with Nobel laureate Eugene Fama that retail investors are best off owning index funds. Warren Buffett gives similar advice, as does David Swensen, Yale's chief investment officer. Harvard professor Andre Perold serves as a director for the bastion of indexing, Vanguard.
Yet, while advocating indexing, four of those five are unquestionably active investment managers.
Regards,
Ted
http://news.morningstar.com/articlenet/article.aspx?id=744482
