Active managers are throwing in the towel. They haven't demonstrated an ability to beat the market and are now re-evaluating their value and their selling proposition to investors.
http://www.thinkadvisor.com/2015/04/06/the-real-point-of-active-investing
I need to think about this some more. There may be a viable rationale to active management beyond trying to beat the market.
Do I want a plane flown only on auto pilot or do I want a plane piloted by a person who may be able to react in an emergency. The analogy may not work because there may be times when a plane flown by a person takes emergency action for no reason whatsoever.
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