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Buffett: Only handful of managers can really outperform
Monday 27th of February 2017
In Berkshire Hathaway's 2005 annual report, Buffett argued that active investment management, in aggregate, would always underperform the returns of passive funds.
"I explained that the massive fees levied by a variety of 'helpers' would leave their clients – again in aggregate – worse off than if the amateurs simply invested in an unmanaged low-cost index fund," he said in this year's l...
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