Despite this being the best year so far for active management, a recent report found that 51% of large-cap active fund managers are underperforming.
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"It's important to remember that efficient market theory doesn't say markets are priced correctly every day," Nick Colas, co-founder of DataTrek Research, said in the same segment."It says that there's no reliable way to find the mispricing, and that's still true. And that is why active management is so hard."
"Every great investor has one phenomenal idea," he said."A phenomenal idea that people didn't believe for a long time. And that's been proven true."
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