Index Investing With a Twist

What is the efficient market theory and how did it come under attack during the financial crisis?

How have active managers performed during the financial downturn and the subsequent market rebound?

What are the implications of low returns on fixed income for retirement assets?

What is a more reasonable discount rate for pension funds, according to the discussion?

What are the potential risks associated with illiquid investments compared to liquid markets?

What strategies does the speaker recommend for someone planning to retire in 15 to 20 years?

How does the speaker suggest individuals should approach their investment philosophy?