Joel Tillinghast, who specializes in small-cap stocks, said his job as portfolio manager has also become tougher because of the changing nature of the U.S. economy.
It increasingly appears that the stocks investors are buying when the market dips in general are the stocks that have generally been going up, not the ones headed down.
Vanguard’s entrée into active ETFs could spur more product development, and more price pressure on other active strategists.
For the moment, there's renewed optimism for progress on taxes.
