I haven't read it as anti-stock :) In theory the market should/will optimize, maximizing opportunities, which in turn basically turns everything into the same

I haven't read it as anti-stock :) In theory the market should/will optimize, maximizing opportunities, which in turn basically turns everything into the same risk-weighted-yield-wise. (After all, if there's enough information, depth, participants, liquidity, low transaction costs, then people will go after whatever market niche they may find.) So, yes, there's a limit of how much money should be in stocks, but my belief/theory is that the investing market is very good at figuring this out (in the grand scheme of things).