Private equity returns have collapsed as the $3.2 trillion exit crisis deepens. Why David Lloyd's sale to itself reveals an industry model that's fundamentally broken.
In this guest post, William Morris introduces the idea of explanation-based investing as a fresh alternative to the often-misunderstood term “passive investing.” He argues that what investors really need isn’t to be active or passive, but to understand the reasoning behind their choices. Clear explanations, grounded in evidence, can help people make better decisions and achieve stronger long-term outcomes.
The hidden costs of passive investing can add hundreds of basis points annually beyond headline fees. New research reveals how index funds face invisible expenses from rebalancing friction, tracking errors, and market impact that never appear on fund fact sheets. UK investors may pay far more than the advertised 0.1% management charge.
TEBI
Jul 1411 min read
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