Recently, investment adviser Josh Brown (a.k.a., The Reformed Broker) addressed a currently fashionable argument that if your adviser uses index funds,and has you fully invested right now, your portfolio may be exposed to great harm.
Brown characterized the debate this way : “[b]asically, they’re saying that because rates are so low and valuations are high and stocks have already run, that active management is the only answer and passive investors are in trouble.”
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