Is passive indexing a delusion?

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Joe Shaefer of Stanford Wealth Management, an old friend of more than 30 years, recently wrote an article for Seeking Alpha.  “Passive Index Investing is a Delusion” is an active manager’s view of investing in indexes.  In the podcast I address Joe’s views of why index investing is a losing strategy and why I think he is dead wrong.  While Joe raises many interesting problems of investing in indexes, he fails to give investors credit for being able to address all those problems successfully.