Passive Investing
2 posts
Terry Smith: The Rise of Passive Investing: A Market Distortion We Can’t IgnoreIn the past few years, the financial world has witnessed an undeniable shift: the relentless rise of passive investing. As Terry Smith pointed out at the latest Fundsmith Annual…
Terry Smith: Passive Investing: The Self-Reinforcing Momentum StrategyIn his latest letter to shareholders, Terry Smith explained why passive funds are effectively momentum strategies that create a self-reinforcing cycle, driving up large-cap stoc…