As a value investor, GAMCO Co-Chief Investment Officer Chris Marangi puts more emphasis on the quality of a company's management and culture. And he sees a future for active management in a choppy or bear market.
The idea that asset management is a mindless endeavor devoid of skill, art or judgement is a harmful one. Even cheap, automated strategies have varied outcomes. The humans behind the machines still matter.
Pittsburgh financial advisor ordered to pay fine for fleecing pro athletes, index funds are blamed for something else now. and the wealthy still use travel agents.