Did active managed fund do better in bear market?# Investment - 投资
t*s
1 楼
If you think you paid for fund manager to allocate to right asset during
bear market, so you “loose less”. Think again.
Check this link (S&P Releases Active vs. Passive Scorecard for 2000~2002)
http://www.ifa.com/archives/articles/staff_20030122_s&p_releases_active_vs_passive_scorecard_for_2002.asp
and original study here
http://www2.standardandpoors.com/spf/pdf/index/012203spiva1.pdf
Remember
1. A lot of fund disappeared during bear market. So you have to adjust “
survivorship bias”.
“The bear
bear market, so you “loose less”. Think again.
Check this link (S&P Releases Active vs. Passive Scorecard for 2000~2002)
http://www.ifa.com/archives/articles/staff_20030122_s&p_releases_active_vs_passive_scorecard_for_2002.asp
and original study here
http://www2.standardandpoors.com/spf/pdf/index/012203spiva1.pdf
Remember
1. A lot of fund disappeared during bear market. So you have to adjust “
survivorship bias”.
“The bear