David Fleer
Bristlecone Value Partners, LLC
12301 Wilshire Blvd., Suite 320
Los Angeles, CA 90025 USA
Work 1-877-806-4141

Passive vs. Active: End of Debate?

February 20th, 2015

Last October, we weighed the merits of combining both active and passive strategies in our asset allocation recommendations.  Subsequently, the fund research firm Lipper estimated that in 2014, only 15% of active large cap equity managers outperformed the S&P 500. Such poor relative performance would seem to settle the debate in favor of passive investing. Or does it?

First, we acknowledge having a dog in this fight, which may cloud our judgment: Bristlecone manages a large cap portfolio, and it lagged the return of the S&P 500 index last year. Read the rest of this entry »

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