lol in many cases those millennials have seen an absolute walloping of their portfolio values. Meme stock postings are not holding up to well, and each generation needs to learn the same lesson: earnings matter and the price paid for those earnings matter even more.
As to ETF's as their weight as a % of total funds in the market increase, they will become increasingly inefficient.
Of course over time the low cost of ETF's is placing pressure on the active fund management charge structure. But active fund managers fees are starting to reflect this (not MFG yet). But then we are also seeing the translation of this through market valuations. Where as historically fund managers achieved consistent PE's of 20, they are now down to the low teens. So the market in its wisdom, is better reflecting this outcome.
Like I said everything in moderation including moderation itself
MFG Price at posting:
$12.33 Sentiment: None Disclosure: Held
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). But then we are also seeing the translation of this through market valuations. Where as historically fund managers achieved consistent PE's of 20, they are now down to the low teens. So the market in its wisdom, is better reflecting this outcome.
(20min delay)