Post-pandemic, US retail equity flows have fundamentally changed compared to 1990s dot-com bubble era: money is stickier, more automated via target-date funds, and flows back and forth to crypto rather than truly exiting equities.

factualpending

Speaker

Dave Nadig

Evidence Quote

this time it feels different. It really does feel like this money is just very sticky. And the only place it seems to move is occasionally back and forth across the crypto line with retail.

Source

The Market That Won’t Break | Why Risk Doesn’t Matter (Yet)Excess Returns
Created: 8/11/2026, 7:27:07 AM

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