Ackman Inadvertently Makes Index Funds Case

Bill Ackman has inadvertently made the case for index funds. The Pershing Square boss rails against passive portfolio managers in a missive sent out this week. He also blames his own woeful 2015 performance on bad market timing and hedges that didn’t work. That pretty much encapsulates why most investors should stick to the likes of the S&P 500 Index or the Russell 2000.