The case for active management when so few outperform the S&P 500

Let's talk about the S&P 500 because that was kind of the core of your article. Again, I don't want to get ahead of you. But that is a bag of stocks, an index of 500 companies.The less efficient the market, the easier it is for experts to capitalize on those inefficiencies and add value.And you're the expert here. But asset classes that maybe the active manager can find value.So it is very important. When you talk about active versus passive that you specify about which index and about which asset category, ...