Terry Smith: This Passive-Led Momentum Market Will End Badly

Investor enthusiasm for artificial intelligence and passive investing has pushed momentum to levels rarely seen in modern markets, creating an increasingly difficult environment for managers focused on profitability, returns on capital, and valuation. For Terry Smith, the divergence has become impossible to ignore. Fundsmith Equity Fund fell 2.9% during the ... Read More The post Terry Smith: This Passive-Led Momentum Market Will End Badly first appeared on The Acquirer's Multiple® .