Active Portfolio Mgmt

With talks of ETFs going the actively-managed way (instead of passively tracking an index), I decided to understand what exactly is active portfolio mgmt? Turns out this will be an elective in MFE, so decided to hold my horses till then.

Some search on this matter lead me to this site (authors of "The Ultimate Investor"), which contains good information regaridng active portfolio mgmt, risk mgmt, financial engineering, and quantitative investing.

Links
Active Portfolio Management
Financial Engineering