Rick Ferri, CFA®
Author, Columnist and Managing Partner, Portfolio Solutions, LLC®
Active Funds Win Battles But Lose Wars
There have always been select actively managed funds that beat the cap-weighted indices market, and there always will be. But trying to find these funds before they outperform is exceedingly difficult, especially across multiple asset classes and styles. In addition, the outperformers may not pay well enough given the risk. Active managers may claim victory…
SPIVA® Interpretation and Misinterpretation
I’ve been a long-time SPIVA® fan. The first report was published about 13 years ago and it quickly became my go-to active management scorecard. No firm was comparing active manager performance to index benchmarks regularly. Advisers had to crunch data themselves to see the trends. SPIVA came to the rescue by doing the heaving lifting,…