# Active Management Myth

Page: https://stenobird.com/podcast/talking-real-money-investing-talk-201087/active-management-myth
Text version: https://stenobird.com/podcast/talking-real-money-investing-talk-201087/active-management-myth.md
Podcast: [Talking Real Money - Investing Talk](https://stenobird.com/podcast/talking-real-money-investing-talk-201087)
Published: 2026-05-11T17:00:00+00:00
Episode link: https://www.buzzsprout.com/2607021/episodes/19158889-active-management-myth.mp3
Audio file: https://www.buzzsprout.com/2607021/episodes/19158889-active-management-myth.mp3
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JSON: https://stenobird.com/v1/public/podcasts/talking-real-money-investing-talk-201087/episodes/active-management-myth
Duration seconds: 2052

## Resource

Tom and Don take aim at the persistent myth that active management adds meaningful long-term value, using a new study highlighted by Larry Swedroe showing that 1,260 balanced mutual funds dramatically underperformed simple low-cost index portfolios from 1990–2021. The duo contrasts expensive actively managed balanced funds with inexpensive index strategies like the Vanguard Balanced Index approach, illustrating how fees alone can devastate long-term returns. Along the way, they discuss the em...

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## Transcript

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