I'd say this article probably overstates risks. US Equities are only about 30% passive, depending on how you measure it, and there probably is substantial run-r

I'd say this article probably overstates risks. US Equities are only about 30% passive, depending on how you measure it, and there probably is substantial run-rate for an even greater concentration. Here's a pretty good article: https://www.aqr.com/Insights/Research/Alternative-Thinking/Active-and-Passive-Investing-The-Long-Run-Evidence https://www.aqr.com/Insights/Research/Alternative-Thinking/A...