If We Don’t Know Where We Are Going… Any Road Will Get Us There

The French paradox: ‘the more things change the more they stay the same’ has characterized market behavior in 2018. Risk averse passive investment has led to a sustained rise in Index performance and attendant flow of funds into these vehicles. And while nascent ETF active investing trickles in, active managers on the buy side remain primarily in secondary and tertiary institutions. That said, a market correction seems inevitable, and with it may come a greater appetite to move away from the predictable into more active strategies…

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