FYI: Few people thought Steven Cohen and passive would ever appear in the same sentence. Until now.
Cohen, the hedge-fund manager who became a billionaire by actively trading and betting on stocks, is funneling money to Acorns Grow, an app maker that encourages users to regularly put their spare change in a basket of exchange-traded funds, according to a Wall Street Journal article. Most ETFs are passively managed, meaning that they simply seek to replicate the returns on an index of stocks, bonds or other assets rather than outperform a benchmark.
Regards,
Ted
https://www.bloomberg.com/gadfly/articles/2016-11-22/even-steve-cohen-is-thinking-about-passive-investing
