Myth BUSTED: ETFs and Market Efficiency
The Myth: Everyone is piling into ETFs, and that makes stock markets less efficient.
The argument: The more people invest through indexes and ETFs, the fewer people there are scrutinizing the fundamentals of stock prices to figure out if individual stocks are cheap or expensive. That must make it easier to pick stocks, right?
It’s a catchy idea that sounds reasonable, except it’s completely wrong!
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