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Herb Morgan (CEO of Efficient Market Advisors, LLC) submits: Wall Street has its own vernacular to be sure. Occasionally even, some of it makes sense. More often than not the jargon we use has absolutely no practical meaning. One old saying that gets used over and over in an attempt to sell active money management is the phrase, “It’s a Stock Picker's Market.

Source: Why You're Better Off With Exchange-Traded Funds (ETFs) Even in "A Stock Picker's Market"