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Jan 19
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Mike Allison's avatar

Thanks so much for your comment. This passive flow vs over valuation situation is a strange dynamic that will resolve itself eventually. Hopefully in a not so destructive way.

As I like to say, “diversification” is not risk-management.

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Jan 18
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Mike Allison's avatar

Thank you for your comment. It’s a strange world we live in these days, where benchmark components drive returns but expose investors to more risk than they understand and appreciate.