ETFs and the Passive Investing Bubble

Dr. Burton Malkiel, author of the influential book, "A Random Walk Down Wall Street," which revolutionized how people approach investing, joined Julia La Roche on episode 142.

Link: https://www.amazon.com/Random-Walk-Down-Wall-Street/dp/1324051132

0:00 Intro and welcome Dr. Burton Malkiel 

1:30 Writing ‘A Random Walk Down Wall Street’ 

4:30 Reaction to ‘A Random Walk’ 

5:30 90% of active managers do worse than the index 

8:14 Investing in the first index fund, and its returns 

12:48 This is the way to invest

19:30 Exchange Traded Funds (ETFs)

22:29 Bitcoin spot ETF, bubbles 

27:18 Debunking that ETFs distort financial markets, fuel a passive investing bubble 

33:40 Efficient Market Hypothesis and what the media gets wrong

38:20 View of the markets, macroeconomics  

43:50 Retirement crisis ahead?

48:48 Background

50:38 Parting thoughts