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Passing Shots

The Fifth Set Blog

Topics: Active Management, Active vs Passive, Asset Allocation, Brokers vs. Advisors, Diversification, Efficient Market Hypothesis, Evidence-Based Investing, Hedge Fund, Illiquid Investments, Index Investing, Long-term investing, Portfolio Management

“In Investing, You Get What You Don’t Pay For”

That was the title of a keynote address given by Vanguard founder John Bogle in February 2005.  For Bogle, a prominent evangelist of low-cost investing, the premise, simply stated, was that investment expenses directly erode investor returns. Investor Returns = Market Returns – Expenses Market  …read more »

Why bother with hedge funds?

Why do people bother to invest in hedge funds? Other than a lack of transparency, excessive fees, tax inefficiency, illiquidity, and underperformance, I suppose they’re OK. They do make for nice cocktail party banter. A recent satirical glimpse into the changing language of the hedge  …read more »