Indexology®: The Value of Skill
March 22, 2015 at 07:00 AM EDT
2014 was an extraordinarily difficult year for active equity managers, especially in the U.S. market; our year-end SPIVA report, e.g., showed that 86% of large-cap equity funds underperformed the S&P 500. This observation is hardly unique, nor original to us. What’s unusual about 2014’s...