Market Wrap: Briefing on the new high

Again, the U.S. market reached a fresh high:

The S&P 500, Nasdaq Composite and the Dow Jones Industrial Average closed at all-time high levels for a third straight day. U.S. stocks keep on outperforming the rest of the world:

S&P performed better than most activist strategies:

That activist investors focus on cheap, small, and poor-quality stocks is intuitive, to differ from the major indices. The active mutual fund performed worse than the S&P 500 since 2008:

Another fact about the market you may know: Passive US equity funds surpassed active funds in assets under management (AUM) since August this year. Yet, the number of activist investors remained flat: