Tom Bailey’s guest for this episode is Larry Swedroe, chief research officer at Buckingham Wealth Partners, a long-standing advocate of passive investing, and a prolific author.
00:41 - Defining active and passive investing
04:45 - The Incredible Shrinking Alpha: how to be a successful investor without picking winners.
12:40 - Warren Buffett’s ‘secret sauce’
20:15 - Market efficiency and Grand Slam tennis champion Roger Federer
25:51 - A renaissance in day trading and GameStop
28:29 - The Grossman-Stiglitz paradox: what is it?
31:25 - Active ETFs
37:20 - Factor investing: value, momentum, growth, quality and size
50:41 - “There’s risk in any strategy and that’s why you want to highly diversify”
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