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
Prediction markets and sports betting price outcomes almost as accurately as the stock market prices companies. A new Morgan Stanley report explains why that shared accuracy still leaves nearly every bettor poorer, and nearly every long-term investor richer.
TEBI
Aug 64 min read
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