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Index fund investors and pseudo-index fund investors must be prepared for a decade of mediocre returns. Stock investors looking for the fast lane will find it clogged. Frustration and other symptoms of unmanageability will be common. Should indexing lose popularity, returns will turn negative as investors seek alternatives. If the herd abandons the index funds [...]

Analyzing CDO performance is challenging because there is no publicly available secondary market data. Furthermore, there are no readily available performance statistics or CDO indexes to gauge total returns. Certain proxies for CDO collateral performance exist, such as leveraged-loan closed funds (as a proxy for CLOs), synthetic residential MBS indexes, and leveraged-loan indexes, but due [...]