, Columnist
Active-Investment Management Never Went Away
Stock pickers have their place, but there's no excuse for high fees and underperformance.
There's skill to it.
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This is the year that active-investment management makes its return to form. It is the year, or so we are told, when active fights back, scores some points, and gets its revenge on passive indexers.
For the record, active management never went away. The claim that it has returned, after a run of fairly horrific performance, is likely little more than some mean reversion. This all comes in the midst of a shakeup in the investment industry, as low-cost indexing has dominated growth in the business for the past half-decade.