John Redwood: There is 'no such thing' as active or passive investors

The discovery that many fund managers did not manage to beat the share index for the country where they were invested, led to the creation of funds that replicated or mimicked the index. They give you the capital gains and income of your share of the totality of shares in a given market, minus a small amount for the costs of the fund. This has led some to conclude you should buy the passive, to avoid the danger that your chosen investment manager underperforms the index. It means surrendering the hope that they will do better than the index. The debate about whether someone shou...