A remarkable 54-minute UK film featuring some of the world’s top economists and academics and demonstrating:
* how the claims of active fund managers to be able to beat the market are largely a myth
* how costs are the biggest drag on performance – and why active costs more
* how passive investing offers the best experience for the vast majority of investors
* the benefits of a diversified portfolio in guaranteeing consistent returns
* why passive investing is better for your health
* why active investing has held sway for so many years….
* … but why things may be changing
* and why passive is the rational, mathematically proven route to investing success.
Mainframes occupied an interesting spot in the American imagination. The mainframe, in the movies, was an incantation: it conjured up all the mysterious power and glory of technology. The mainframe could compute not just faster, but other. The mainframe was an oracle that had secrets and power, but it was locked away in the bowels of a corporation or government, hard to reach physically, hard to reach digitally…
We all access powerful servers that are faster than the mainframes of decades past. But the power of the idea of the mainframe is gone. It’s been decomposed into its constituent parts and cycled up into the cloud.
the vast majority of the recent rise in income inequality is “permanent” rather than a result of increased year-to-year instability in earnings…
a very egalitarian society in which everyone enjoys a high standard of living is almost certainly going to have become that way precisely because it doesn’t strive to turn the remorseless meritocracy of the PGA tour into a model for society.