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How much passive investing is too much?
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
Robin Powell
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Stephen Bird was on a hiding to nothing at Abrdn
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Robin Powell
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Robin Powell
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The investment trend is not your friend
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Robin Powell
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There are no fundamental laws that govern market movements
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Robin Powell
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Watch out for silent partners when using active funds
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Robin Powell
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The case for fixed-income index funds
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Robin Powell
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Style drift means you don't know what you're buying
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Robin Powell
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Fund selection: the fired beat the hired
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Robin Powell
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There's widespread confusion about dividends
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Robin Powell
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Picking stocks is like looking for a needle in a haystack
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Robin Powell
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The fundamental flaw of active ETFs
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Robin Powell
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Six lessons from A Random Walk Down Wall Street
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Robin Powell
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How wide is the gender pension gap?
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Robin Powell
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Robin Powell
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How do fund managers invest their own money?
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Robin Powell
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Robin Powell
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Simon Bullock: Are you living your own authentic life?
Robin writes: Sadly, we've come to the end of our podcast series Second Lives . In it, my co-author Jonathan Hollow has been exploring...
Robin Powell
Apr 24, 202421 min read
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