'Delusional' to think picking good funds is easy - Bill McQuaker

"There is a lot of academic work that suggests active management cannot beat stockmarket indices," said McQuaker. "I would observe, however, that the vast majority of that work is done on the US equity market. "I would also observe that the people who write this research take every fund in the universe, throw it into the sausage machine and conclude the average fund does not beat the index." Multi-asset insight: Video interview with Bill McQuaker Such a conclusion is hardly a surprise, he pointed out, as by definition it includes the whole market and, once charges are taken into ac...