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‘Wretched excess’ and index emperors: Munger takes aim

The near-centenarian investor believes that institutions like BlackRock and Vanguard will wield outsize power in the market, and that our latest period of “wretched excess” will end with a bang. As passive investing becomes the go-to for a new wave of dumb money, Wall Street’s masters of the universe have been replaced with the emperors…
Lachlan Maddock | 23rd Feb 2022 | More