Battered Funds Blame ETFs for Overrunning Stock Market. Again
- Active managers experience worst January in four years: BofA
- Shunning market leaders including Apple and Microsoft has hurt
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It’s an old theory, with shaky proof, that always gets louder right around now. The stock market is so overrun with dumb index money and exchange-traded funds that it can’t even tell when something bad’s happening.
You hear it from old hands and stock pickers, lamenting a lost edge in a world where even a pandemic barely registers on charts. Something sinister must be afoot when 30,000 people are infected with coronavirus, the global economic expansion is threatened, and the S&P 500 has its best week in eight months.