Passive Investing: The Evidence the Fund Management Industry Would Prefer You Not to See - YouTube Quote: This is quite an interesting video from a group known as Sensibleinvesting.tv. I do agree with its overall thrust – fund managers of all ilks do a rubbish job for the extraordinary amount of money they rip off investors. They do such an ordinary job because they cling to ideas that simply no longer have any currency, yet they are too stupid to realise that these ideas are no longer valid. Anyone with the smallest amount of intellectual horsepower can look at the notion of the Efficient Market Hypothesis and see that it is a rubbish idea built upon a series of fallacies. Despite this it is still the cornerstone of most investment managers. Chris T.