Month: November 2017

Fayose chides Buhari for supporting sack of 22,000 Kaduna teachers, say; “APC govt turning workers sack to policy”

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Ekiti State Governor, Mr Ayodele Fayose has condemned President Muhammadu Buhari rsquo;s support for the Kaduna State Government rsquo;s planned sack of about 22,000 teachers that purportedly failed competency test conducted by the State Governme ...Powered by WPeMatico

Criticism of index-tracking funds is ill-directed

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INDEX funds were devised in the 1970s as a way of giving investors cheap, diversified portfolios. But they have only become very popular in the past decade. Last year more money flowed into “passive” funds (those tracking a benchmark like the S&P 500) than into “active” funds that try to pick the best stocks.In any other industry, this would be universally welcomed as a sign that innovation was delivering cheaper products to the benefit of ordinary citizens. But the rise of index funds has provoked some fierce criticism.Two stand out. One argues that passive investing is, in the phrase of analysts at Sanford C. Bernstein, “worse than Marxism”. A key role of the financial markets is to allocate capital to the most efficient companies. But index funds do not do this: they simply buy all the