I recently attended the Calgary CFA Society’s Annual Forecast Dinner. It’s probably the only event of the year where the entirety of the city’s investment and finance professionals come out of their dens for some awkward hobnobbing.
Can Concentrated Portfolios Compete with ETFs?
As low-cost indexing strategies – usually in the form of ETFs – have increased in popularity, we’ve frequently opined that one of the major changes for the investment industry will be the shrinking of investment funds that are providing “high-cost” beta. We would define high-cost beta as an investment fund that charges management fees over…