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A Sober Look At Index Funds

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A Sober Look at Index Funds

When Charles Ellis writes a book exhorting investors to buy index funds, it rattles those of us who have spent our careers in active management. Ellis, after all, wrote two glowing forewards for Yale University’s David Swensen in his book, “Pioneering Portfolio Management,” a bible of alternative investing. It was Swensen’s success investing in hedge funds,…

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