Warnings that index funds have broken the stock market all imply a threshold: a share of the market at which price discovery fails. Nobody making the argument names it. Owen Lamont, writing in the Financial Analysts Journal, argues that no such number exists short of complete passive ownership, and that what actually determines whether prices stay informative is who is left doing the trading. His case, the strongest peer-reviewed research against it, and what the performance
The most valuable New Year's resolution for investors in 2026? Tune out the noise. The evidence is clear: market forecasters are no better than coin flippers, yet we keep listening. Here's why ignoring predictions might be the best investment decision you make this year.
