[mlsu]

Because our markets are no longer efficient at allocating capital. These companies are too large, they don't compete. They can buy a company for half a billion and write it off a few months later, at the whim of someone deranged by hype. How many businesses in competitive markets can afford to do that?

[pishpash]

And the reason is all of you dumping cash into the market no matter what because John Bogle said so half a century ago.

[Synthetic7346]

I disagree - yes, some companies are overvalued, but it isn't because of index investors.