Busy doing not very much at all

By Noël Amenc and Frédéric PicardJune 2006 (Magazine)

When highlighting the merits of the profession of active manager, stock picking is often presented as the leading factor in the creation of value. After the downturn in the markets in 2000, benchmarked management was vilified in favour of investment management based on ‘convictions’ where small cap stocks, which had ...