Michael: Thank you for another well researched and thought-provoking essay. I've followed and agreed with Michael Green's comments on passive investing for years. I'm surprised that passive is still "alive and well" let alone now receiving 52% of new money, but then I've been surprised by the longevity of many market trends during my five decades as a trader. I've learned the hard way that trying to time the end of a trend is expensive, but when "conditions" are in place for a possible "turn" it pays to wait for a "catalytic moment" (PTJ's term) that potentially defines a "turn" before fading the trend. The catalytic moment could be "hard evidence" like fingerprints on a murder weapon or more esoteric like "I don't hear a thing" from the Margin Call movie. I sense that "conditions" are in place for a turn in the passive trend, can you imagine a catalytic moment?
Michael: Thank you for another well researched and thought-provoking essay. I've followed and agreed with Michael Green's comments on passive investing for years. I'm surprised that passive is still "alive and well" let alone now receiving 52% of new money, but then I've been surprised by the longevity of many market trends during my five decades as a trader. I've learned the hard way that trying to time the end of a trend is expensive, but when "conditions" are in place for a possible "turn" it pays to wait for a "catalytic moment" (PTJ's term) that potentially defines a "turn" before fading the trend. The catalytic moment could be "hard evidence" like fingerprints on a murder weapon or more esoteric like "I don't hear a thing" from the Margin Call movie. I sense that "conditions" are in place for a turn in the passive trend, can you imagine a catalytic moment?
How does one go from Klarna laid off 700 customer service agents (and replaced them with a chatbot) to dissolving moats in the lower K ?
As for michael green of simplify asset managment, I wonder how are his top performing ETFs are doing.
wasn't able to download the document
try clicking on the download even if it looks blurred, or if you like I can send it to you