A Bond Whiz Teams With a Nobel Winner Who Warns About Bubbles

Economist, author, and Yale University professor Shiller Photograph by Jessica Hill/AP Photo

These should be boffo times to be a fund manager. But while the market is at an all-time high and investor enthusiasm is readying an arena-storming comeback tour, cash isn’t going into active management nearly as much as it is sluicing into cut-rate, passive exchange-traded funds and index funds.

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