Passive Should Never Laugh At Active

Via Kevin Muir of “The Macro Tourist” fame I have been meaning to write this post for quite some time. As an ex-ETF trader, I have watched with bemusement as investors have both embraced and shuddered at the wide adoption of ETFs. But most pundits are missing the larger picture. ETFs are just a symptom of the bigger phenomenon. The true battle lies in the passive versus active debate. Let me get this out of the way right off the bat. I have no dog in this hunt. I see both the benef