Why Passive Investing Makes Even More Sense in Inefficient Markets
In an efficient market, your expected losses are whatever fees you pay. In an inefficient market, your expected losses include returns you give up to faster and better investors.
Samuel Lee
Samuel Lee is a strategist covering passive strategies on Morningstar's manager research team and editor of Morningstar ETFInvestor, a monthly investment newsletter. Click here for a free issue. Follow Sam on Twitter: @mstarslee. Prior to becoming editor, Lee was a fund analyst on Morningstar’s passive funds research team, where he covered alternative, dividend, and actively managed ETFs and performed quantitative modeling of ETF strategies.
Lee joined Morningstar in 2008 as a data analyst, where he evaluated ways to measure and improve the firm’s data quality.
Lee holds a bachelor’s degree in economics, with honors, from Grinnell College.
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