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"My advice to the trustee could not be more simple: put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund".As investors wake up to the maths, active fund management is starting to face the kind of pressure seen in other industries, like newspapers, record labels and taxi companies, which are losing their role as gatekeepers.
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The message is that maths is the gateway to a glamorous and active lifestyle.
Before they can hope to join the 47 active astronauts in the corps, candidates need a bachelor's degree in maths, engineering, biological or physical sciences, but preferably an advanced degree too.
Academics would accept that there weill be some periods in which active managers outperform, but those periods cannot be reliably predicted.In part, this is down to maths.
In traditionally research-active countries such as Germany, France, the UK, and the Netherlands, universities are struggling to attract students to study maths, physics, and chemistry, in particular.
Do the maths.
Especially maths.
The maths are simple.
The maths makes sense.
That's simple maths too.
Had maths broken his mind?
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com