Private equity returns have collapsed as the $3.2 trillion exit crisis deepens. Why David Lloyd's sale to itself reveals an industry model that's fundamentally broken.
The S&P 500's concentration in the Magnificent Seven has critics worried about indexing risk. But Hendrik Bessembinder's research reveals why index concentration actually strengthens the case for passive investing: just 4% of stocks drive all market returns, and active managers consistently miss these winners. Historical data shows market concentration has been normal for 150 years, from railroads to tech giants.
Robin Powell
Sep 98 min read
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