Ann: Update on Hamish Douglass & David George commencement date, page-100

Yeah, I agree.

And strangely enough so did Jack Bogle. His argument was the market would never reach that saturation point. But when asked what would happen if the market was dominated by passive, index hugging funds he said it would be a disaster.

If the rates continues as it is... we will soon see.

I think everyone agrees you need active investors, making rational decisions based upon fundamentals.

Unfortunately, passive simply follows the best ideas of every market participant. It's not a fair system at all.

My point is, how are the Magellan's of the world ever going to pull in new investors, when they can't even match the benchmark and still charging high fees.

It doesn't take a genius to choose the fund charging .003% and making more money - thus the continual rise of Vanguard and others.

Sadly, the supposed talent with the active fund managers is inevitably found to be lacking.