Banque Privée Edmond de Rothschild SA

18, rue de Hesse

CH - 1204 Genève

+41 (0)58 818 9111

The cost of trying to outsmart the market as an active investor

1950 - 2015

Or why everybody is better off.

Change in eight Subcomponents since 2000

Or why it is getting ever more expensive to keep up with the Jones