Passive vs Active: The game has changed but the rules are the same

Sir John Templeton famously said, “The four most expensive words in the English dictionary are ‘this time it’s different.’” Whilst poignant quotes are ten a penny, this particular quote by the founder of Templeton investments struck home, namely because we are now well into one of the longest and ‘most hated’ bull markets on record, as some like to call it.