FYI: Over the past few decades, there has been a substantial shift from active to passive investment strategies.
Active strategies give managers discretion to select individual securities and/or time the market, generally with the investment objective of outperforming a previously identified benchmark.
Passive strategies (such as indexing) use rules-based investing to track an index, typically by holding all its constituent assets or an automatically selected representative sample of those assets.
Regards,
Ted A.K.A. Night Owl
https://www.etf.com/sections/index-investor-corner/swedroe-passive-market-efficiency-works?nopaging=1
