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Burton Malkiel: why is it so hard to beat the market?

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Published on Sep 26, 2012

http://sensibleinvesting.tv -- the independent voice of passive investing

Burton Malkiel, author of A Random Walk Down Wall Street, gives two main reasons why it's hard to beat the market on a consistent basis. Firstly, markets are efficient and reflect the impact of all known information at the time; and secondly, the costs of active management are higher and, along with the costs of buying and selling, mean that you lose more profit through costs than with passive investing.

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