Einhorn Says Markets Are ‘Broken.’ Here’s What Data Shows

Einhorn Says Markets Are ‘Broken.’ Here’s What Data Shows
David Einhorn put it bluntly: The valuation-be-damned boom in passive investing has “fundamentally broken” markets as it proceeds to crush the time-honored hunt for cheap-looking stocks across Wall Street — year after year. In the telling of the renowned hedge-fund manager, the explosion in index-tracking flows is putting so many active investors out of business that the halcyon era of... ...

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