I was reading on Bloomberg today when I found an article titled, "Elon Musk and Cathie Wood Say Passive Investing Has Gone Too Far" [link]. Both are well-known personalities, albeit in different arenas. I would understand why Cathie Wood, portfolio manager of the actively-managed ARK Innovation ETF, has an axe to grind against passive investing. But it is rare to see Elon Musk comment on the same topic. Passive investing in the form of Exchange Traded Funds (ETFs) has grown over the years. According to Statista, the AUM parked under global ETFs has exceeded 10 trillion U.S. dollars in 2021 [link]. The growth has been most significant over the past two years, when COVID-19 restrictions forced people to stay home. According to a study by FINRA, more retail investors had flocked to the equity market during the pandemic [link]. I suspect the same reason also explains why there is a greater interest in cryptocurrencies and...