6 Comments
 

thanks for the question

well, I'm coming out of a stint in VC and I'd like to get some experience in public funds management

as a matter of principle, I'm not comfortable working for an active manager, and so I'd like to work for a passive manager

in the long run, I'd like to work on modelling some new indices (like geography/sector/security specific indices) and constructing the respective index portfolios (like a market portfolio of S&P 100 call options)

other than that, I'm pretty clueless. essentially, I'm just caught up in the ideal of indexing.

naive, stupid, misguided?

Marijuana leads to Doritos, not harder drugs.
 
newbie2bankingwhy aren't you comfortable working for an active fund manager?

well, the reason is the following quote from Rex Sinquefield, which I totally agree with.

"It is my contention that active management does not make sense theoretically and isn't justified empirically. Other than that, it's O.K."

Now, I understand the quasi-economic function active managers have in the market for corporate control, and even though active managers serve the useful function of disciplining company boards; for me, working for an active manager would feel like living a lie. It's like, I would come to work and lie to myself that I can beat the index.

I'm not sure I could do that.

Anyway, who else is a great index manager?

Marijuana leads to Doritos, not harder drugs.
 

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