Turns out more and more investors are giving passive investing a try.

事实证明，越来越多的投资者正在尝试被动投资。

Passive investing, basically putting your money into an index fund, is on the rise.

民众对于被动投资的热情正在上升，它指的是把钱放入一个指数基金中。

The rise of passive investing reflects the fact that few stockpickers are able persistently to outperform the overall market.

被动投资的兴起反映出很少有股票挑选者能够持续跑赢市场的整体状况。

So many more algorithms, and machines and passive investing.

更多的算法、机器和被动投资。

And of course, a lot of what BlackRock does is passive investing.

当然，贝莱德所做的很多事情都是被动投资。

But by contrast, Robin, you're a very famous advocate of passive investing.

但相比之下， 罗宾，你是被动投资的著名倡导者。

And I say a parts of its portfolio because this really relates to active investing, not passive investing.

我说它的投资组合的一部分， 因为这确实与主动投资有关，而不是被动投资。

I tend not to use the term passive investing for, for various reasons, but the terms are essentially interchangeable.

我倾向于不使用被动投资这个术语，但这些术语本质上是可以互换的。

There has been a long secular decline into passive index investing, which there's a race to the bottom among asset managers on fees.

被动指数投资长期以来一直在下降，资产管理公司之间在费用上展开了逐底竞争。

Well, coming up, an investment masterclass in something known as passive investing and why passive could be a better bet than active.

好吧，接下来是一个关于被动投资的投资大师班， 以及为什么被动投资比主动投资更好。

Ultimately, active and passive investing aren't mutually exclusive— many investment strategies have elements of each, for example, choosing stocks actively but holding them for the long term as passive investing advises.

最终，主动投资和被动投资并不相互排斥——许多投资策略都有各自的要素，例如，主动选择股票， 但按照被动投资的建议长期持有。

Brilliant. Now we talk a lot on the Money Clinic podcast about passive investing, investing when you're tracking an index and using index funds to do that. But how are ETFs different?

杰出的。现在，我们在 Money Clinic 播客上谈论了很多有关被动投资、跟踪指数时进行投资以及使用指数基金来做到这一点的内容。但 ETF 有什么不同呢？