The investment world can be confusing for private investors. The jargon and arcane language particular to the industry makes it difficult to understand what is going on with your investments. In addition, invested journalists and agenda-driven opinion makers make it near impossible to get an objective view of what is happening.

I often say investors must view the industry in the same way I view American politics — it is impossible to sift fact from fiction. This is particularly true when it comes to the index (passive) vs the active fight. ..

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