News
In Epic Letter, Elliott's Singer Rages Against Everything From Passive Investing To "Safe Spaces"
We've frequently warned about the myriad of potential risks arising from the massive capital flows from active to passively managed accounts which will eventually, and inevitably, wreak havoc upon the markets. It is, in fact, this transition which is inextricably linked to the market's apparent disregard for traditional valuation metrics as it surges to all new highs with each passing day.
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Schwab: "New Accounts Are At Levels We Have Not Seen Since The Dot Com Bubble" As Millennials Rush Into Stocks
We can now officially close the book on the "cash on the sidelines."
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Howard Marks Sounds The Alarm On ETFs And Passive Investing, Again
Back in March 2015, Howard Marks was among the first to sound the alarm on the encroaching danger posed by both ETFs in particular, and passive investing in general, when he memorably asked (rhetorically, for now), "what would happen, for example, if a large number of holders decided to sell a high yield bond ETF all at once?" and answered his own question:
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