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
Investment platform fees vary wildly — and small differences compound into serious money over time. Here's how to work out what you're really paying and whether it's time to switch.
Robin Powell
Jan 2810 min read
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