“One-hundred billion is a big number but that's all it is. I don't pay much attention to bragging rights. That's not what investors are concerned about. Investors are concerned with returns.”
“A lot of people are starting to realize they need to diversify more than simply holding large cap stocks. The more sophisticated investors are going for a 'total-market' concept. They're buying not just large caps, but mid caps and small caps.”
“It's just 30 stocks, ... It is generally positive, but overall it doesn't change the position of institutional investors or individual investors for that matter.”
“This is the 12th year in a row that [analysts say] it's a tricky market and you have to be a stock picker, ... For the past 12 years, active managers have consistently underperformed their benchmarks.”
