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Are ETFs Killing Future Stock Market Returns?

Trillions

CHAPTER

Is the Expected Return a Function of the Fed?

The Fed and central banks around the world kept rates very low. Did QE asset prices lifted? Probably beyond what valuations, you know, what earnings would suggest. A lot of people thought this was the passive bubble. I said, no, it's a Fed bubble. But now that bubble is broken. People still buying index funds, but markets going down.

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