For the bogle heads and other "passive index" worshippers, start at around minute 58 and listen carefully to the Mike Greene's presentation to Fed and IMF why passive indexing will eventually crash the market . . and there is nothing which can be done about it, thanks to Vanguard and Blackrock with regulatory capture. . . the relentless bid towards monopolistic ownership.
This is one of the best stock market fundamental versus technical / passive versus active discussions for serious investors.
And if you believe with Mike Greene's analysis, then you should constantly reduce your equity exposure as you age.
good luck to everyone!
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