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Originally Posted by heep223
Agree with everything you're saying and in particular your first point in regards to the global market. In a sense any deviation from the global passive portfolio is in fact active. Lots of research and ideas coming out about this lately given the ease of which we can access said global market.
It's such a complex topic with many nuances, and I again agree with what you're saying. However I think over-simplification for the average retail investor which is the majority of people on a Calgary Flames forum, keeping it simple and managing fees and emotions is the way to go. People are looking for a place to start. You can't go wrong with setting your own asset allocation and using a disciplined, diversified, low cost, passive approach. You can go very wrong with other approaches.
I should note that I'm in the institutional space and don't deal with retail.
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I deal with retail and am totally biased because I'm an advisor. I definitely see your points as well. I use passive strategies and active in my practice for clients, so I obviously see the value in both. I just find that for the 'average guy' he has no idea about any of this and as a result they could learn it themselves or pay someone to handle it. This applies to a lot of things in life.