Warren article on CNBC provided further details:than four pages of annual shareholder letter to criticize active managers on Wall Street. He stated that they charge exorbitant fees for returns that fail to live up to lofty assumptions. An
"When trillions of dollars are managed by Wall Streeters charging high fees, it will usually be the managers who reap outsized profits, not the clients," stated the widely-read letter released on Saturday morning. "Both large and small investors should stick with low-cost index funds."
Investors seem to be heeding Buffett's anti-active advice, as more than $20 billion flowed out of U.S. active equity funds in January despite a rising stock market, according to Morningstar.
What do you guys think of this? Is Buffet right and is active investment on the decline?