Indexing, which was a curiosity in the 1980s, has become a religion

There was a big bull market in the early 1970s led by a group of fifty large-cap stocks known as… drum roll… the “Nifty Fifty.”

[REITs]

Of course, I was not around to remember the Nifty Fifty—I was born in 1974, truly a child of the bear market. Stocks were down 45%.