Graham Bentley: On the evidence

While the so-called ‘active versus passive' debate has a 40-year history, it is only relatively recently that a fashionable antagonism towards active management has arisen - closely correlated with a zealous championing of passive solutions under the general heading of ‘evidence-based investing'.  Support for evidence-based investing is also closely linked to the contemporary popularising of what investment professionals used to call behavioural economics - and before that cognitive psychology. Decorating the rejection of a perceived fund management ‘establishment' with a liberal sprinkl...