Fund managers believe exchange traded funds will have a role in the next crisis
Fund managers who witnessed the 1987 crash believe exchange traded funds will play a role in the next market crisis because they have contributed to inflated valuations on the way up, and will be liquidity constrained on the way down.
Leading sharemarkets are at record highs around the 30th anniversary of Black Monday. The Dow Jones Industrial Average crossed 23,000 points for the first time last week, 54 sessions after breaking through 22,000. It closed at 23,328.63 on Friday.
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