Utopian endgame of the passive investment trend: Prices will be driven by patient activist investors and a few expert stock-pickers.
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Replying to @pmarca
@pmarca@michelteivel@trengriffin@noahpinion there must be a gigantic pricing value to being in the s&p 500. Like winning a tournament1 reply 0 retweets 1 like -
Replying to @DanielleFong
@DanielleFong@pmarca@michelteivel@trengriffin@Noahpinion this is correct and dangerous. People are mistaken about "passive" as a panacea1 reply 0 retweets 0 likes -
Replying to @davealevine
@davealevine index as a bubble? :-)@DanielleFong@pmarca@trengriffin@Noahpinion2 replies 0 retweets 2 likes -
Replying to @michelteivel
@michelteivel@DanielleFong@pmarca@trengriffin@Noahpinion This could be the case. The myth of "safe" equity investing is scary.3 replies 0 retweets 0 likes -
Replying to @davealevine
@michelteivel@DanielleFong@pmarca@trengriffin@Noahpinion research shows that index inclusion has a big impact. https://www.imf.org/external/pubs/ft/wp/2011/wp1147.pdf …1 reply 0 retweets 1 like -
Replying to @davealevine
@davealevine Yes, so no efficiency here: you simply cannot beat the index b/c it’s a bubble.@DanielleFong@pmarca@trengriffin@Noahpinion2 replies 0 retweets 1 like -
Replying to @michelteivel
@michelteivel@davealevine@pmarca@trengriffin@noahpinion well; some people can soundly beat the index ;-)1 reply 0 retweets 1 like -
Replying to @DanielleFong
@DanielleFong You know what I mean. :-) “over the long-term” etc.@davealevine@pmarca@trengriffin@Noahpinion1 reply 0 retweets 1 like
@michelteivel @davealevine @pmarca @trengriffin @noahpinion how many years and how much xx% would convince you ;-)
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Replying to @DanielleFong
@DanielleFong@michelteivel@pmarca@trengriffin@Noahpinion the focus on monthly performance makes long-term investing and measurement hard1 reply 0 retweets 0 likes -
Replying to @davealevine
@DanielleFong@michelteivel@pmarca@trengriffin@Noahpinion should say "even harder" (140 characters is tough! :-))0 replies 0 retweets 0 likes
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