Structural, Ongoing And Permanent

I'm never sure how much editorial attention to afford the ongoing active-to-passive shift in the equities space (and it's not confined to equities now that we're on the subject). This has been going on for so long that it scarcely bears mentioning in any discussion with "professionals." And yet, it still comes up in those discussions, which makes me think I should keep mentioning it. As noted here on any number of occasions this month, equities as an asset class are on track for an enormous in