The next time youre out on the golf course and your partner begins bragging about his hot-shot fund manager and his high return on investment, be skeptical. Be very skeptical.
That investor is probably better off in equity index funds, and his fund manager is likely to know it.
I was clueless about this index fund vs. actively managed fund idea four or five years ago, said Donald Lichtenstein, a professor in CU-Boulders College of Business and Administration. Then I started reading and listening to good advice.