The bottom line here is that while a big part of me is rooting for the guy, the odds are most assuredly not inÂ Adam Schwartz’s favor.
Proponents of passive investing are going to keep insisting that the epochal active-to-passive shift isn’t dangerous or otherwise prone to destabilizing markets. They’re going to take that narrative to the grave apparently.
“But for a universe of individual investors (and rather distressingly, probably some institutional investors, too), the message of empowerment is anything but. Itâ€™s a nudge into terrible portfolios, terrible costs and terrible outcomes. But hey, at least they got religion and implemented those terrible, far-too-actively-traded portfolios with ETFs!”