As you know, we’re big fans of passive investing — it’s simple, low-cost, and it works. But with passive funds now making up nearly 60% of US stock funds, what has that done to the market? Dimitri Vayanos is Professor of Finance at the London School of Economics and co-author of the award-winning paper Passive Investing and the Rise of Mega Firms.
Read Dimitri’s paper here: https://personal.lse.ac.uk/vayanos/Papers/PIRMF_RFSf.pdf
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