^ I question the whole idea that passive beats active. I wrote a paper on this and it’s being reviewed. The main claim for that is SPIVA, which is put out by S&P and it seems like everyone quotes that to conclude that ~97% of active managers don’t beat the index. I can get into it (if you’re interested), but it’s basically marketing and there are several major flaws.
And that’s on the equity side. The fixed-income side I question even more.
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