California's massive pension fund CalPERS has doubled down on active management, adding $65 billion to its actively managed equity portfolio over the past three years—a bold vote of confidence in the power of expert stock-picking.

The move challenges the conventional wisdom that passive, low-cost index funds always win. CalPERS' head of global public equity, Simiso Nzima, is defending the strategy by pointing to real performance gains: when managers genuinely have skill and beat their benchmarks, active management absolutely works. It's a refreshing reminder that in an era of algorithm-driven investing, human expertise and strategic decision-making still create measurable value. Read the full story →

Today's takeaway: Talent matters—and one of the world's largest investors is betting $65 billion that skilled fund managers can still outsmart the market.