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You've just found a way to restate "they don't truly believe they can (consistently) beat the market." On the flip side-- a passive fund manager would take 100
by jancsika 2y ago
You've just found a way to restate "they don't truly believe they can (consistently) beat the market."
On the flip side-- a passive fund manager would take 100% downside risk of the fund failing to properly track the index, and only in return for a modest fee. Stated differently-- passive funds can and do consistently track the market.