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Quote of the Day

"The problem with active management isn’t that active managers are especially dumb and prone to bad decisions. The problem with active management is that it asks us to pay fees to bet on a zero-sum game, which as Charlie Ellis reminds us, is definitionally a loser’s game."

(Rusty Guinn)

Chart of the Day

REITs have crushed it in the past year.

(capitalspectator.com)