Re: Active Stock Picking vs. Indexing Challenge
Well, true, that's what he did say. His other posts about indexing and stock picking lead me to believe that he believes in a strong version of the efficient markets hypothesis. That hypothesis would say that all sectors should have equal returns after adjusting for risk. If you could consistently pick winning sectors, that would 1) violate the efficient markets hypothesis, and 2) net you a LOT of money.
|