I think it will continue forever. The easy returns in hedge funds (the arbitrages, fat risk premiums, etc) have been compressed to almost nothing because of capital, technology, and access. hedge funds have to get much much smarter to outperform. This is one of the reasons hedgefunds changed their mandate to “risk adjusted returns” and started aiming for 6-10percent in “all markets” though we know they mostly suck at that too.
%% Long story short; lower fees/better returns as a general rule. When i was in elementary school kid the cash market for recycled KO bottles+ containers was HOT/LOL
Because when productivity falls, intense redistribution comes into play. Also access to trading becomes increasingly easy and cheap and aggressive marketing including crypto hype is difficult to resist.
Why? Because on the corporate level, we have so many idiots like Elon Musk to manipulate own stocks. Apple's Tim Cook is a clever one, but the same principle. So we take the market index, better equal weighted. So we get rid of the corporate noises.
Topps had the best gum...hard and crunchy when you first bit into it and then turned into a bubble making machine. Followed up by a toasted almond ice cream bar by the good humor man on the bicycle pushing a cooler with dry ice...that we bought for 5 cents to make Herman Munster potions...Good times.