Ethics Financial Market Investment Advisor Math 
The Big Picture
DECEMBER 6, 2022
First of all, I think the amount of investors that participate in the financial markets is much smaller than it is in the U.S. And I think that the financial advisors are used, but not as widely used as they are in the U.S. I remember telling myself, why would anyone invest in mutual funds when you can buy an ETF instead?
The Big Picture
NOVEMBER 15, 2022
So for a while, I ran Wells Fargo’s 401(k) business because they had acquired that as part of Wells Fargo Nikko Investment Advisors. So as much as I’m personally still a pretty strong skeptic of active management, I mean, I understand the math, and the odds are not in your favor. It’s how math works.
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