When ‘Trillions Of Dollars’ Goes ‘Blind’: Howard Marks Is Worried About ETFs & Passive Investing
July 27, 2017 at 07:24 AM EDT
In the current up-cycle, over-weighted, liquid, large-cap stocks have benefited from forced buying on the part of passive vehicles, which don’t have the option to refrain from buying a stock just because its overpriced.
