Robert Pozen, MFS Investment Management Chairman and Former Fidelity Vice-Chairman told ETF is the “greatest thing that happened” to active mutual funds.
Pozen said, “It makes stock pickers more important. I’d love to see these guys blindly buy a whole index. No one's looking to see which stocks really deserve the prices or not. So if the whole world changes to index, and whether it's through exchange traded funds or passive funds, the traditional ones, it's really a good thing for active stock pickers. It makes them more valuable."
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