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
There may be some disagreement on the true extent of it, but the UK, like most other western countries, is in the grip of a mental health crisis. Health Secretary Wes Streeting has described it as an “epidemic”. Several interventions have been shown to improve mental health, particularly mindfulness and cognitive behavioural therapy. But there’s one approach that, in my view, deserves far more attention than it’s given, and that’s financial planning. Survey after survey shows
Robin Powell
Mar 7, 20254 min read
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