Y hablando de indexing ...y el futuro (brillante) de la gestión aciva :Klarman.
Todo lo que esta en los indices cada vez más caro..
To Mr. Klarman, “stocks outside the indices may be cast adrift, no longer attached to the valuation grid but increasingly off of it.”
“This should give long-term value investors a distinct advantage,” he wrote. “The inherent irony of the efficient market theory is that the more people believe in it and correspondingly shun active management, the more inefficient the market is likely to become.”