Here I was thinking your posts were becoming more neutral and balanced.
I would love to know where these post GFC comments come from - there are stats going back 30 years showing active has consistently underperformed.
I don't understand why someone as well versed, still chooses to speak like the fund manager about to float another closed style fund - with tales of the impending doom.
If doom falls upon the market, active, like always will follow it down.
The only stat that mattes is 70 something percent of active managers fail to match the benchmark over the long term.
The rest is mere rhetoric.
And this is from someone who thinks passive funds are toxic and eroding price discovery. But you can't dispute the facts - and those facts don't just go back to the post GFC mania.
MFG Price at posting:
$11.18 Sentiment: None Disclosure: Held
(20min delay)