> Well, maybe. My Fidelity contact has not heard of such a thing, nor has Morningstar's Fidelity Canada contact. Suffice it to say that none of these citations came linked to the original source. (Such is the Internet.)
I mean, simple Google produced result I shared, which you might have easily cited to in your original request and added the clarification you just added, but you didn’t do that.
Or strange thought, you could contact Fidelity and ask them yourself — and if it is urban legend, let them know, and suggest them survey their records and see if legend is true — since for sure mainstream media would cover it and given current economy likely be good for business too.
Yes, and that was an interview between Barry Ritholtz and James O'Shaughnessy of O'Shaughnessy Asset Management, and not someone from Fidelity. Here's O'Shaughnessy again on that anecdote:
> 1/That story was told to me by a former colleague which perhaps allowed me to lower my guard on it. When I went looking for it, I found nothing. Pure Urban Legend. Underlying the importance of seeing the source material. My passing it on in an interview gave it more life.
> Or strange thought, you could contact Fidelity and ask them yourself
Many, many, other people have already done that, and Fidelity has told them there is no such study, as the link I cited states:
> Well, maybe. My Fidelity contact has not heard of such a thing, nor has Morningstar's Fidelity Canada contact. Suffice it to say that none of these citations came linked to the original source. (Such is the Internet.)
> Mean time, no shortage of research on the topic:
I'm well aware of the advantages of passive investing and practice it myself (as my comment history in this thread will show). But if you're going to encourage people to do it perhaps use studies that actually exist.
[citation needed]
This is an urban legend from what I recall. (But not touching your investments is generally a good idea.)