Welcome podcast friends we have a fantastic episode for you today.

Last year we published the Best Investment Writing, volume four, we offered authors the opportunity

to record an audio version of their chapter to be released as a segment of the podcast and

listeners loved it.

This year, we're once again bringing you the entire

volume of the best investment writing, volume 5 in podcast format. You'll hear from some of the

most respected money managers and investment researchers from all over the world.

Enough for me, let's get to our guest and let them take over this special episode.

Hi, this is Larry Seagull and and this is debunking nine and a half myths of investing.

This talk was prepared for Ted Aronson and his firm A J O Vista and has been revised for the current situation.

How did I become a myth buster? A quick look at my website reveals that I've written at least six articles with the word myth in the title, not counting earlier versions of this article. I guess the answer is that I'm amused by human folly and for some

odd reason feel the need to correct shoddy thinking. But I also think that it's an easy way to

help people to get them to stop acting against their own interest,

something everyone does from time to time.

A brief commercial.

I also worked the word folly into the title of my latest book Unknowns on Economics

Investing Progress and Folly. Please buy it. Just type unknowns folly into Amazon. That will distinguish it from all other books

that have the words unknown and knowns in the title. Thank you very much. Let's get started. Myth number one, I'm going to use the words

quote and close quote to bracket the myths so that you don't think this is what I believe but so that you understand that I think

it is a myth. Quote, there is so much indexing that the market must be getting more inefficient

because there is not enough money managed by people who analyze securities."

My response, fat chance. About half the assets in the U.S. equity market are actively managed.

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