Please note that index links point to page beginnings from the print edition. Locations are approximate in e-readers, and you may need to page down one or more times after clicking a link to get to the indexed material.


Accountants, 210

Active investing

costs of, 69, 164

as loser’s game, 13–14

by market timing, 22–25

as negative-sum game, 9

Active investors

consensus of, 85–86

markets outperformed by, 48

performance pursued by, 32–33

prices changed by, 85–86

risk viewed by, 97–98

Active management

argument for, 46–47

bubble of, 167

cost of, 3, 6–7, 49, 247

effectiveness of, 46

fees, 163–167

index investing compared to, 45–47, 166

investors considering, 118–119

investors making decisions of, x–xi

underperformance of, 243–252

Active managers ...

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