Rowing Upstream

摘要

The age of active investment management could not have gotten a more emphatic eulogy. In February, Warren Buf-fett, the worlds richest and most famous stock picker, devoted five pages of Berkshire Hathaway s closely read annual letter to the virtues of passive index investing. It was as if Moses had written a lengthy essay explaining why adhering to the Ten Commandments was actually, in practice, pointless.