>Think passive investing is only for people who think the market is “efficient”? Think again.
Steven Thorley PhD, CFA, H. Taylor Peery Professor of Financial Services, Marriott School, BYU ….. Makes a case that even if markets are not efficient, the best way to maximize your return is……passive investing.
Unlike most of my colleagues (note: not most advisors), I’m not 100% convinced that markets are efficient, however, I also don’t believe that if they aren’t, that I or someone else has the ability to take consistent advantage of those inefficiencies.
This is a well written, interesting (non-academic) piece written by an academic and if you have even an inkling of wanting to learn about investing money, read this piece alongside Bogle, Swedroe and Ellis.
Scott Dauenhauer, CFP, MSFP, AIF