Stock and bond picking won’t vanish, but mutual fund outflows show they’re endangered. :
(Bloomberg Opinion) --As far as analogies go in the financial markets, this one from Moody’s Investors Service is brutal: Active mutual funds are to landlines as passive funds are to mobile phones. That’s the takeaway from analysts led by Stephen Tu after seeing a record $369 billion pour out of long-term mutual funds in 2018, while flows into exchange-traded funds remained largely in line with recent years.