It’s no secret that here at Evergreen we’re boisterous free-market advocates. Data and history show that economies operating freely in a system with moderate and rational government control perform better in the long-run. When economies are burdened by excessive government policy or overwhelmed with authoritarian control, nations become unstable, which often spurs abuse and extremism.
In the financial newsletter industry, John Mauldin is like LeBron James. No one stands taller or is more popular than John with his million-plus circulation of Thoughts from the Frontline. Candidly, John’s work inspired me to start writing the Evergreen Virtual Adviser back in 2006 (so now you know who to blame!).
Regular EVA readers are no strangers to Danielle DiMartino Booth, former senior adviser to Dallas Fed President Dick Fisher before and after the housing bust. Even sporadic viewers of CNBC are likely to have seen her repeatedly interviewed on nearly all things Fed-related.
Sometimes our newsletter has been accused of writing too technically about financial markets. Truth be told, it’s a constant juggling act to write something that caters to casual market observers as well as to those who pore over the meeting minutes every time the FOMC convenes.
It’s been nearly a year since our newsletter last touched on the passive investing phenomenon. And yet, despite its absence from these pages, direct asset flows into passive vehicles have continued to outdo their active counterparts at a dizzying pace.