C. Thomas Howard and I authored a series of posts entitled The Active Equity Renaissance earlier this year. We did so because we believe that it is hard but not impossible to “beat the market.” We outline many of the directions the investment management industry took over the last 15 years that have led active managers astray. Much of the blame for active managers’ failure to deliver value is on active managers themselves. Yet, we identify steps they can take to improve performance, and we support our contentions with data.
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