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Howard
wildwest
That seems to be a rather over blown peice. The fundamental concept has some merit, but I think the outcome described is wildly exaggerated.
If you'd owned an index tracker for the past 5 or more decades, you'd be doing ok and would have outperformed active portfolios in aggregate.
Where's the proof that active investing has been key to the success of stock indexes since their conception? I don't see it.
Edit: when I click on your link, I get a different article which starts:
"BlackRock is already the world’s largest asset manager, but it is in touching distance of another crown: becoming Britain’s biggest."
I've got a subscription to the FT.
2nd Edit: apologies, I see you were quoting one of the comments. Obvs, comments are a free for all and largely there for shits and giggles.
Agree that the article was pretty bland and not what I expect for my £50 a month.