FYI: There’s a large body of evidence, including Eugene Fama and Kenneth French’s study “Luck versus Skill in the Cross-Section of Mutual Fund Returns,” which was published in the October 2010 issue of The Journal of Finance, demonstrating that active management is a loser’s game— fewer actively managed funds are able to outperform, on a risk-adjusted basis, than would be randomly expected.
Regards,
Ted
https://www.etf.com/sections/index-investor-corner/swedroe-active-isnt-all-bad?nopaging=1
