Is Your Retirement Fund Ruining Our Economy?
Index Funds offer an intoxicating promise: lower fees, diversified risk, and better returns. But is there a dark side to their astonishing rise?
by Greg Rosalsky
Oct 08, 2019
3 minutes
Editor's note: This is an excerpt of Planet Money's newsletter. You can sign up here.
In the mid-2000s, Michael Burry smelled trouble in the housing market, realizing that big banks were packaging shady subprime mortgages and reselling them as surefire investments. He concluded that it would lead to a spectacular collapse, made a huge bet against the market and, ultimately, tons of money. His story was dramatized in the book The Big by Michael Lewis and in a Hollywood movie in which he was played by Christian Bale.
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