Equity strategies

Results from the CFA Institute (¹⁰,⁹,⁸) look promising for discussing the debate and challenges of active management. Specifically,⁷ "Active vs. Passive Revisited: Six Observations" by Benjamin Doty, CFA seems to offer a balanced critique and discuss why active management often struggles. This is perfect for the limitations section and is not behind a paywall.
So, the final external links will be:

1. SEC Investment Advisers Act of 1940: https://www.sec.gov/rules/other/iao1940.htm
2. Markowitz Retrospective (PDF): https://econ.utah.edu/~eui/seminars/rubinstein.pdf
3. UCI on Passive Investing Growth/Critique: https://merage.uci.edu/news/the-dominance-of-passive-investing-and-its-effect-on-financial-markets.html
4. CFA Institute on Active vs. Passive Debate: https://blogs.cfainstitute.org/investor/2023/06/01/active-vs-passive-revisited-six-observations/

Now, I will proceed with writing the article following all the instructions.

Silent LINK_POOL construction:

¹²³⁴⁵⁶