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Many active fund managers had hoped the end of a bull market would give them the chance to show they were worth their higher fees
A volatile market was supposed to give stock pickers the opening they needed to win back investors lost to cheaper index funds.
Instead, a dismal 2018 proved it is never easy to beat the market.
Just 38% of actively managed U.S. stock funds tracked by Morningstar outperformed their counterparts at passively managed funds last year. That is...