You hurt me, KT. You know that I always believe everything that you say.
Trading, incidentally, doesn't work in a rear view mirror. I guess yours is broken?
Know what, by definition, indices will outperform approximately 50% of all funds that invest in the same market. The fact that indices outperform more than 90% of all such funds shows that ... well, that to prefer active investing over indexing you have to have a really strong ulterior motive, like, say, a livelihood depending on trading. :-)
And, in the time where savings accounts beat all the funds around, inflation was likely beating the savings accounts as well. Such imbalances do happen, but are a wash in the big picture of, say, 40 years of investing. Any attempt to pass the exception to refute the norm is intellectually lazy (or, again, has some ulterior motive).
Finally, I went to C-school (that's Computer Science) at Indian Institute of Technology, and, later, at Brown. Where's Wharton, again?
:-) |
