Hi! I'm working on the following problem and would like some help:

1)What are the arguments/possible reasons why active management is a zero sum game and why it may not be creating value?

2)What is a top down process; what is a bottom up process; what kind of risks are relevant to each process, explain.

3)According to the author what could be possible reasons for lengthy market cycles and can they be forecasted?

4)What is a passive approach to investment? What is not exactly not passive about such a strategy?

5)Why are cap weight indices popular? What are the possible reasons for their popularity/advantages?

6)What are alternatives to cap-weight indices? Explain what are equal weight indices. Why do they usually perform well?