Owen Rascovitch

So from the British comedian John Oliver, he said, think of fees like termites.

They're tiny, they're barely noticeable and they can eat away at your fluffing future.

And that's fluffing is obviously... I put that in there.

Redacted was the word I should have used.

So they can eat away at your future.

And that's true.

They're like termites.

They just take little bits lots of times and you don't even notice it.

That's right.

We still hear – so what I want to clarify there is active.

Yeah.

So the difference between active and passive and average.

So people who invest professionally such as myself, we claim that we can pick individual shares or businesses and then own those shares for a longer period of time and we can do better than what you would do if you were investing in index funds.

Yeah.

which is an index fund just tracks the market so like the asx 200 the dow jones what whatever you see on the news that's normally the average yeah so when we talk about averages in the share market we talk about the asx 200 the dow jones and what you find is all the studies that have been done are based on those types of averages not like what's the average of all these different share prices what actually what those averages are are the asx 200 and all the rest of it anyway

What studies have found is that, especially recently, is that about 70% to 90% of people that actively invest, like professional investors, do worse than those averages.

If you think about that, there's a 70% to 90% chance that you're going to do worse than average investors.

And people don't really understand, but a lot of that has to do with fees.

And sometimes the people that pick the shares for you are just terrible at what they do.

It's just reality.