may give the investor more control, or some semblance of control, but returns aren't always superior to those produced with a passive portfolio that's designed to match the market. These strategies are often multi-layered and complicated transactions unfit for a beginner.
Burton Malkiel, an economist and author of the classic finance book "A Random Walk Down Wall Street" said inwritten for the online adviser Wealthfront, where he currently serves as chief investment officer, that he doesn't "confuse day traders with serious investors."
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