Former hedge fund manager says retail investors are no more sophisticated than 30 years ago

A former hedge fund manager argues retail investors are not more sophisticated than they were 30 years ago. He suggests those trying to beat the market with individual stocks and complex ETFs may do better with broad market index funds.

Timeline

1. 24 Oct, 15:00 UTCFirst appeared on CNBC

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• Retail investors are not more sophisticated than 30 years ago, says former hedge fund managerCNBC