Active investors can only beat the market if other active investors do worse. This isn’t a morality tale – it’s a warning with respect to your finances.
The Investor
What’s up with the manic stock market and the crazy Swiss? Plus the rest of the week’s good reads.
There’s a crucial difference between the fact that trying to beat the market is a zero-sum game, and the *misconception* that the same is true for investing.
Don’t worry about the minutia in passive investing — unless you want to, of course! Plus the rest of the week’s good reads.