all valid thoughts in above posts........i tend to believe this is a cyclical dip for the sector.
the popularity of passive/etf investing will inevitably turn when the portfolio bias it creates becomes untenable.......its a certainty to my mind
the poster above who talks about takeovers is right too......active management will rise from the ashes again.....bigger and better as is almost always the case.
its a good time to be entering the financial sector more broadly........its as cheap as its been for 30 years (ex trough of GFC).
Ann: Funds Under Management - April 2023, page-82
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