drew

i’d love to see a paper about whether passive investing is shrinking the “active float” of stocks and whether that makes them more susceptible to price changes (in both directions) from coordinated active participants, especially when buying things bc they’re going up is in-stylehttps://twitter.com/timsteno/status/1400051088716357642 …

This is basically Mike Green’s argument I think, though I’ve not seen any research that backs it up.

I don't have the paper handy but kolanovic put out a paper estimating that 10% of equity volume was discretionary trading and the rest was associated with ETF create/redeem and things like that, green likes to cite it quite regularly

I hope this won't be seen as a kolanovic endorsement on my part tho lmao

i have no good or bad feelings towards kolanovic. he is good at his hustle, just like zoltan. often disagree to some degree but they do what they say they do and its not grifty