A correctly functioning stock market requires two parties. A buyer and seller, someone who has a positive view on the stock they are acquiring, and someone who has a negative view on the stock they are selling. Without two parties there is no market.
This simple description outlines the very essence of active investment management: Disagreement.
- Does Passive Investing Have A Cap Of Market Cap?
- Passive Assets To Cool As QE Ends?
- BoA Sell Side Indicator Shows No Euphoria .... Yet
- Large Cap Funds Have Impressive H1, With 54% Beating Benchmarks

To take the analogy one...

