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David Jane: "Markets do not do what they are supposed to do, they do what market participants in aggregate make them do."
ETF buyers are a herd chasing the same fashions and trends, argues David Jane, with passive investing leading investors to place increasingly disproportionate amounts of capital within an ever narrower universe
The past few weeks have seen a number of headlines about the growth of exchange-traded funds (ETF)s and index investing in general. ETFs, particularly in the US, have come to dominate retail flows,...
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