• Active vs passive investing

  • Investopedia definitions

    • passive: when a fund manager tries to mimic a fund

    • active” tend to have “gig fews” and recent research has questioned their ability to outperform the market

      • an extremely skewed definition

  • Can you put a value on the “fees” you pay

  • Nepsis doesn’t use benchmarks or publish returns

  • Don’t buy historical returns

    • do you know how returns were achieved

    • Do you know how much risk?

  • Benchmarks

    • if you don’t know how a benchmark is structured you should not compare apples to orange

  • Investors are focused on the cheapest option

  • Parabolic move:

    • stock prices go through the roof

  • Many investors don’t do as well as they could

    • investors doing the best they can has nothing to do with returns

June 26, 2019