Passive Investing

If Japan’s largest pension fund wants to lead on stewardship, it needs to pick better battles.

Soc Gen is depressed.

GMO’s Peter Chiappinelli is worried about a benchmark bond index.

A reclassification of share indexes is just one sign that tech stocks have lost their special status.

Dividends don't go on forever.

How a neglected brokerage became a 30-bagger, with help from index investors.

After a royal rally, is the optimism justified?

Backtesting bluster fails to match reality, part infinity.

A vote in Milan has global implications for passive investors, says Sahil Mahtani

The star fund manager turns contrarian as he enters his dark night of the soul.

How a baccarat binge helped launder the world’s biggest cyberheist; how passive investing is now in danger of devouring capitalism; how credit raters ducked reform; an honest business news update; the Irish Farmers Journal weighs in on what you could buy instead of Neymar; other stuff.

“When it’s time to head for the door, you better move fast.”

Area fund manager decries threat to his business.

Jeff Gundlach appears at SALT as a hologram; the SEC might kill the quadruple-leveraged S&P 500 ETF; Darwin visits Wall St; can we still rely on collective wisdom; “To Woo Millennials, Financial Advisers Dress the Part”; unpleasant thoughts you had and the things you bought to stop having them; other stuff.

A note that’s either an exercise in wishful thinking, or a warning that darker days are ahead for passive allocators. Perhaps both.