Active versus index funds: Latest results

A random walk on the base-4 digits of pi (see http://gigapan.com/gigapans/106803)

A Random Walk Down Wall Street

Fifty years ago, Princeton economics professor Burton Malkiel published A Random Walk Down Wall Street. He boldly asserted that a blindfolded chimpanzee throwing darts could pick a stock portfolio that would do as well as one created by many expert practitioners in the field.

At the time, Malkiel envisioned a strategy of owning a broad-based set of stocks, saying mimicking a major stock index such as the U.S. Standard and Poor’s 500 index (S&P 500). At the time, such investment vehicles

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