I guess I’m just not into the idea that human stock pickers are better than machines.
However, machines are only as good as the humans who program them, so I’m not arguing that active fund managers disappear completely. Just the ones doing any active trading. For, instead, I believe that the human fund managers who manage markets will transition to the educators of the machines, just not doing any trading themselves.
This is summed up nicely in the MIT research around AI, which argues that humans will rarely be doing any active anything.