This is a fascinating thought. I suppose the key is 'everyone'. Passive investing is premised on the idea that markets rise. And markets rise based on someone p

This is a fascinating thought. I suppose the key is 'everyone'. Passive investing is premised on the idea that markets rise. And markets rise based on someone providing proper valuation to the stocks in the market. If there's no one doing the picking, does the system fall apart? Possibly consumer, buy-and-hold investors are out-influencing Wall Street traders? I find that hard to believe, but it does seem like a long-term possibility.