> if there is a stampede for the exits, there still have to be buyers on the other side of the sellers That is a key point in the debate. I do not see that abo

> if there is a stampede for the exits, there still have to be buyers on the other side of the sellers That is a key point in the debate. I do not see that above is necessarily true. Say a price of a low volume stock X is driven down below fundamentals just because index funds have to sell 1% of holdings and cannot find enough buyers for X. While price of X might be irrational fund managers might not be able to act on it because there would be a worry that it may go lower still if selling extends. Could next round get X removed from index? delisted? "The market can stay irrational longer than you can stay solvent" is not an empty worry. My 2c.