The idea that you can buy the market, touted by advocates of passive investment, is a 'fiction', according to Jerome Booth, head of research at Ashmore Investment Management.

Exchange-traded funds and other passive investment products aim to invest in a so-called 'market portfolio', based on the idea that you can create an index which includes all possible investments in an asset class weighted in proportion to their size.

The idea that you can buy the market, touted by advocates of passive investment, is a 'fiction', according to Ashmore's head of research Jerome Booth

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Jerome Booth turns aggressive on passive

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