if you look at MGOC November update on performance since inception the fund has outperformed MSCI world index by 3%. In addition MGOC dividend is about 4% where as indexes will be less than 2%.
This results is in spite of the poor performance over last 18 months from MGOC.
There is no basis for your statements to say active fund managers performance is poor. Investors have trillions around the world with active fund managers like our own Macquarie Bank. Surely all these investors are not dumb as you make out to be.
Chasing Last Years Winners - A Losing Strategy, page-16
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