The success or failure of active strategy is always measured on a net-of-cost, risk-adjusted basis against its benchmark.

FORBES: Passive Investing Doesn't Exist, But So What?

Packed with data from dozens of academic studies, this book shows the hard facts about the failure of active management and the fund companies who profit from it despite the chronic underperformance.

FORBES: Passive Investing Beats the Markets

Yet the record will prove that active management is a catastrophic failure to achieve that goal.

FORBES: Playing With Active Money Managment Is A Losing Game