How about this for an article published today on Bloomberg.com: Bernstein: Passive Investing Is Worse for Society Than Marxism - Bloomberg. The article is about a note written by the research and brokerage firm Sanford C. Bernstein & Co., LLC.
Here's a quote from the article - "In a note titled "The Silent Road to Serfdom: Why Passive Investing is Worse Than Marxism," a team led by Head of Global Quantitative and European Equity Strategy Inigo Fraser-Jenkins, says that politicians and regulators need to be cognizant of the social case for active management in the investment industry."
The author of the Bloomberg.com article does have fun with this entire thought process. For example he ends his article by writing - "While the question of whether the rise of passive investing is an existential threat to capitalism remains an open one, Bernstein's team acknowledges one uncomfortable truth: it certainly looms as a major downside risk for the livelihoods of people who produce sell side equity research."
Here's a quote from the article - "In a note titled "The Silent Road to Serfdom: Why Passive Investing is Worse Than Marxism," a team led by Head of Global Quantitative and European Equity Strategy Inigo Fraser-Jenkins, says that politicians and regulators need to be cognizant of the social case for active management in the investment industry."
The author of the Bloomberg.com article does have fun with this entire thought process. For example he ends his article by writing - "While the question of whether the rise of passive investing is an existential threat to capitalism remains an open one, Bernstein's team acknowledges one uncomfortable truth: it certainly looms as a major downside risk for the livelihoods of people who produce sell side equity research."