A Hater of Passive Investing Joins an ETF Firm to Wage His War
- Michael Green joins ETF issuer Simplify after hedge fund exit
- Noted market theorist says passive has inflated a bubble
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To his 50,000 Twitter followers, Michael Green is an acerbic critic of the passive investing boom and the disquieting distortions it has inflicted on the U.S. stock market.
So a few eyebrows may have been raised this week when Green revealed that he’s joining Simplify Asset Management, a $274 million issuer of exchange-traded funds. With more than $6 trillion in assets in the U.S. alone, ETFs have almost singlehandedly fueled the passive revolution that Green reckons has made markets more fragile and helped inflate an unprecedented asset bubble.