FYI: After all, if one investor beats the market, another must lag it. Active strategies incur higher fees, so the majority should underperform their lower-fee passive counterparts. Recent media coverage on the rotation from active to passive funds – although focused chiefly on the equity market – may only reinforce this perception.
Our research suggests otherwise – at least for bonds, if not for stocks.
Regards,
Ted
http://www.barrons.com/articles/bonds-are-different-the-active-advantage-1492792234
