New York
THE problem with passive investing, I promise, is worse than you think.
There has been plenty of anxiety on Wall Street about the rise of indexing and ETFs, known collectively as passive investing, with the number of indexes exceeding the number of stocks. Academics and financial pundits have posited that index investing may be pushing up consumer prices, though there are also critics who are sceptical that it kills competition.
But if your concern about index investing starts and ends with the notion that some fund managers will lose their jobs, that you might have to pay slightly more for an airline seat, and that it's a small price to pay for lower fees in your 401(k), your conclusion...
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