Are We Spending Too Much Time Selling Alpha?

I wrote this in 2014, and my feelings on this subject have grown even stronger over time.

Provoking Posts

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An article in the NY Times titled “The Oracle of Omaha, Lately Looking a Bit Ordinary”, got me thinking.

Are the words in the image above what really adds value to relationships?

The NY Times story, by Jeff Sommer, highlights research by Salil Mehta, on his blog Statistical Ideas, about the virtues of index investing.  It is yet another piece that discusses how hard it seems to be to find managers that can consistently outperform index funds.

At my firm, Fiduciary Wealth Partners, we use active managers for some asset classes such as emerging market equities and ESG / SRI mandates, and, prior to starting my own firm, I spent the better part of 25 years successfully selling active management (was a Managing Director at firms that largely promoted active strategies).

In addition, I previously posted my thoughts on how investors might find a manager who adds…

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