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Bridge Alternatives·Michael Green
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A New Look at Active vs. Passive Investment Strategies
Michael Green of Thiel Macro presents a thesis on how the rise of passive investment strategies may be distorting market behavior, valuations, and volatility.
As passive strategies continue to gain market share, Thiel Macro’s Michael Green has been considering the implications. In a thought-provoking presentation, Michael builds an interesting thesis, connecting abnormal short-term market behavior with longer term cyclical demographics. He makes a compelling case that passive strategies are distorting the market’s ability to discount new flows, affecting valuations, correlations, volatility, plus those strategies seeking opportunity in mispricings (i.e. hedge funds).