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You are here: Home / Archives for indexing

504: Indexing Bubble and Asset Class Returns Still Revert to the Mean

December 11, 2024 by Camden Stein · Updated January 15, 2025

How asset class returns move in cycles with periods of above-average returns followed by periods of lower returns. How has the rise of passive indexing led to higher stock valuations, and what does that mean for markets? Show Notes The Equity Risk Premium: Nine Myths (JPM Series) by Rob Arnott—Research Affiliates The Greatest Scourge in Factorland: Revaluation Alpha = Fake Alpha (JPM Series) by Rob Arnott—Research Affiliates PASSIVE INVESTING AND THE RISE OF MEGA-FIRMS by Hao … [Read more...]

Filed Under: Podcast Tagged With: indexing, indexing bubble, mean reversion, stock market, stock market returns, U.S. stock market

467: Unraveling the Truth About ETFs: Benefits, Analysis, and the Indexing Bubble Myth

February 21, 2024 by David Stein · Updated February 29, 2024

How the ETF market is changing, why ETFs should be your preferred investment vehicle, and how to analyze ETFs to generate better investment performance. Topics covered include: How large have fund flows been away from active mutual funds and into ETFs How big are the largest ETF families and how has their market share grown Why the rise of active ETFs blurs the distinction between active and passive investing Why there doesn't appear to be an indexing price bubble, but the … [Read more...]

Filed Under: Podcast Tagged With: active ETFs, active management, active vs passive investing, ETF sponsors, ETFs, indexing, passive investing

390: Are BlackRock and Vanguard Too Big and Powerful?

June 8, 2022 by David Stein · Updated December 10, 2024

How big index fund and ETF providers have increased their sway over publicly-traded companies while potentially discouraging competition. What can be done about it? Topics covered include: How market share for assets under management has become increasingly concentrated with big fund complexes like Vanguard and BlackRockWhat is a fiduciary relationship and how do asset managers serve as fiduciariesWhy do investors in index funds and ETFs have no input as to how fund sponsors vote on … [Read more...]

Filed Under: Podcast Tagged With: BlackRock, climate change, ESG, fiduciary, index funds, indexing, indexing bubble, proxy votes, shareholder resolutions, Vanguard

365: Why Some Asset Bubbles Don’t Burst

November 10, 2021 by David Stein · Updated November 22, 2021

What conditions need to be in place for an asset bubble to continue and how that applies to stocks, cryptocurrency, and houses. Topics covered include: How to determine if there is an asset bubbleWhat are microbubbles and anti-bubblesHow the cannabis stock bubble burstWhat is required to sustain an asset bubbleHow the current runup in home prices differs from the housing bubble in the mid-2000sWhat structural changes have led to the high valuations for U.S. stocksWhat is the Great … [Read more...]

Filed Under: Podcast Tagged With: asset bubbles, bubbles, index funds, indexing, indexing bubble, stock market

340: Climate Change, ESG, and What Should Investors Do?

April 28, 2021 by David Stein · Updated August 16, 2023

How businesses, households, governments, asset managers, and investors interact in unpredictable ways to address the risks and opportunities related to climate change and other global trends. Why ESG investing goes beyond just buying an ESG fund or ETF. Topics covered include: What are the incentives, constraints, opportunities, and risks faced by businesses, households, governments, asset managers, and investors when deciding what to do. What is ESG and sustainable … [Read more...]

Filed Under: Podcast Tagged With: climate change, ESG, ethical investing, impact investing, indexing, Yanagi (Soetsu)

311: Did ETFs Pass the 2020 Market Collapse Stress Test?

August 26, 2020 by David Stein · Updated April 4, 2023

How did ETFs function during the 2020 market sell-off and did the indexing bubble burst? which ETF structures failed the stress test and which passed? Topics covered include: Why were some investors, like Michael Burry, concerned about an indexing bubble What are ETF risks such as flash crashes How did equity ETFs function during the spring 2020 sell-off and how they can act as shock absorbers What were some of the challenges that bond ETFs faced in March 2020 How the rise … [Read more...]

Filed Under: Podcast Tagged With: Burry (Michael), ETFs, indexing, indexing bubble, leveraged ETF, stress test, USO

234: Index But Don’t Herd

December 18, 2018 by David Stein · Updated June 8, 2022

How and when to use passive indexing strategies without following the crowd. Photo by Davide Ragusa In this episode you’ll learn: How big is indexing and why has it taken so long to catch on.What areas has active management done well.What are ways we can index without following the crowd. Show Notes Jeffrey Gundlach says passive investing has reached a 'mania' – investors should avoid index funds - CNBC Passive investing continues to captivate global audience - … [Read more...]

Filed Under: Podcast Tagged With: active vs passive investing, asset bubbles, Bogle (John C.), bubbles, FAANG stocks, fees, index funds, indexes, indexing, indexing bubble, passive investing

198 Plus: Market Efficiency, Tracking Error and Securities Lending

March 31, 2018 by David Stein · Updated May 12, 2021

This week March 30, 2018, we look at whether it is possible to get an "information interpretation edge" in terms of taking advantage of market participants overreacting to information that is publicly available. We also look at how indices are reconstituted, how index funds and ETFs track their underlying benchmarks, tracking error and securities lending. … [Read more...]

Filed Under: Uncategorized Tagged With: efficient market hypothesis, indexing, securities lending, small cap stocks, tracking error

163: Is There An Indexing Bubble?

June 28, 2017 by David Stein · Updated May 27, 2021

How an indexing bubble is manifest, why most active managers underperform and how individuals can structure their own quasi index fund that outperforms the market. Photo by Sebastian Pichler In this episode you’ll learn: How popular is indexing.Why mathematically do active managers underperform.How to outperform a capitalization weighted index.How to build your own quasi index fund. Show Notes The 25 Largest Mutual Funds and ETFs - MarketWatch The Makeup of the S&P 500 … [Read more...]

Filed Under: Podcast Tagged With: active vs passive investing, bubbles, indexing, indexing bubble, passive investing, Sharpe (William F.)

MNY145 Plus: REITs, Quantitative Tightening, and Peer-to-peer Lending

February 18, 2017 by David Stein · Updated May 24, 2021

This week February 18, 2017 on Money For the Rest of Us Plus we look at an example of how not to estimate REIT returns. We also explore the potential impact as the Federal Reserve reduces the size of its balance sheet. We explore peer-to-peer lending using Lending Loop. Finally, we answer whether one can lose money indexing and how to dollar cost average into portfolios. … [Read more...]

Filed Under: Uncategorized Tagged With: dollar cost averaging, equity REITs, expected returns, indexing, quantitative tightening, REITs

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