FinanceThis is what I wrote to new contacts I produced at the London Investor Show which I attended and presented at final Friday.

For 40 years, academic finance has deplored active investing and paying charges for active management. It seems the typical investor ought to save himself 67 basis points a year and just buy a passive index such as Vanguard’s total market place portfolio, and the stock pickers should do anything much more productive like drive cabs. Active management and its charges appear like a total private, and social, waste.

Advice for students. Unless you have very good connections in the company planet, I would suggest staying out of finance in the academic globe. Finance has grow to be vastly overpopulated because the 90s when it promised a wealthy career. The fields of science and medicine lost wonderful talent due to the fact of these promises. I know this …