In a recent call with investors, Byron Wien, chief strategist of Blackstone, was asked why active managers don’t outperform their index benchmarks. He provided three explanations — two well-worn, the third more novel.
In a recent call with investors, Byron Wien, chief strategist of Blackstone, was asked why active managers don’t outperform their index benchmarks. He provided three explanations — two well-worn, the third more novel.