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is the success of a shift from active management to index funds (mechanically, temporarily) self-fulfilling?

“If active managers are redeemed and replaced with passive managers who want to hold less cash, the ONLY solution is for equity prices to rise.” ~#MichaelGreen #ProfPlum99 https://michaelwgreen.substack.com/p/an-ode-to-a-burning-urn-of-cash