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Investment Policy and Behavioral Finance and Performance & Risk: Active vs Passive Management Select all of the following statements that you may believe if you are a PASSIVE investor. If there is more than one possible statement of belief of a passive investor, select all of the correct statements of belief. You believe the markets are efficient You believe the markets are not efficient, but you do not have the time, resources, and/or interest to try to beat the market Because of behavioral blases, most people buy high and sell low so it is best to have a buy and hold approach Active investors don't on average it seems based on various studies, beat the market after subtracting their fees You believe the market is not efficient and you believe you can beat the market and will try to do so