Passive has been good and I’m mostly a passive investor. I’m arguing that we are seeing structural changes which expose you to more risk and may make alternatives more appealing.

> because it’s practically the only good option for retail investors.

If you’re hearing about something, it’s because someone organized that message

> Managed funds can actually afford to advertise.

Have you seen how much money and corporate influence Vanguard and black rock have?

> with most performing worse than index funds

At the same risk level?