Mike Green on the Dangers of the Rise of Passive Investing
Excess Returns
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Investing in a 401k
In 2006, the 401k space changed from an opt-in system to a systematic allocation process that asks one question: When do you plan to retire? And with that, one piece of information then chooses how to allocate all of your capital. That now has changed something radically because instead of me thoughtfully saying, Hey, I want to buy the S&P 500 because I think stocks are cheap,. It literally now is a every two weeks I buy theS&P 500 not because I thinkocks are cheap, but because I have a job. As long as people are getting more jobs, as long as more money is flowing in, you're seeing the dynamics of the S&p
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