Does active fund management pay off?

Given the spread between growth and value currently this really old thread deserves a bump

oh, and everyone arguing that value was a less risky strategy has been proved categorically wrong by subsequent events
 
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Given the spread between growth and value currently this really old thread deserves a bump

oh, and everyone arguing that value was a less risky strategy has been proved categorically wrong by subsequent events

It does to be fair. Lots of active management can be smoke and mirrors, but there are parts of the market where managers with proven track records can do very well. Imagine buying an ETF that tracks the FTSE versus an active manager like Nick Train who serially outperforms.