In order for active managers to have
a reasonable chance of beating the market, they have to have portfolios that are significantly different than the market.
That's not to say that they don't have
a reasonable chance of beating Spain in the final.
Not exact matches
For the vast majority
of shareholders I have spoken to, downside protection and a decent
chance for
reasonable upside
beats the outright ownership
of a distressed biotech company — especially in this investment environment.»