The Real Bubble Has Always Been in Active Management

Michael Burry joins the chorus of people referring to indexing and passive investing as a bubble. It’s not his main point – which is that value small caps are being ignored, which is true – but it’s a point we now hear tossed off on a daily basis as casually and nonchalantly as though the speaker were simply saying that water is wet or LeBron James is good at basketball. Most of the people referrin...

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source https://thereformedbroker.com/2019/08/29/the-real-bubble-has-always-been-in-active-management/