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... Jones industrial average Ever since the creation of the first index, there has been a heated debate between active versus passive management (Sandhu, 2010). Active management, as in Norges Bank Investment Management (2010), involves managers making specific decisions to maximize returns and outperform a benchmark portfolio, example, as Sandhu (2010) suggests, an investor might buy or sell certain stocks in an aim of trying to get higher returns than the stock market indices. The active management in this study is the hedge fund index with the benchmark portfolio being Dow Jones Industrial Average.
Trend forecast signal is used and will generate up and down signals when buying or selling pressure bui...