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
The wealth management industry thinks it has a marketing problem with women. The evidence points to something costlier: women are charged more for the same products, are more exposed to the underperformance that erodes a portfolio over time, and live longer for that drag to compound. A look at what the research says about the financial advice women receive, and what advice built around the life it has to fund would do differently.
Robin Powell
Jun 166 min read
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