The author promotes the Vanguard index funds by comparing them to the average hedge fund. In particular, he favors index funds due to their lower cost, higher historical risk-adjusted returns, non-market timing (such as done with smart-beta), and less turnover than ETFs.
BOGLE, J. C. (2016). David and Goliath: Who Wins the Quantitative Battle?. Journal Of Portfolio Management, 43(1), 127-137.
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