The passive bid's inflows are shrinking but still sufficient to support stock prices, creating a situation where the market can chug along until employment collapses or retirement withdrawals accelerate, which would cause a sudden shift.
causalpending
Speaker
Bill FleensteinEvidence Quote
“the size of the flow is shrinking but it's still enough...when that changes the market will trade differently”
Source
Bill Fleckenstein: We've Gone Past The Point Of No Return, Only An Epic Crisis Can Fix— The Julia La Roche ShowCreated: 8/11/2026, 5:23:30 AM
My Notes
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