People disclose a lot by accident and you can not repeat what you see but it’s hard to forget what you’ve learned.
(It’s partly why I didn’t want to be a systems admin or forensics tech and focused on censorship circumvention.)
(And then by extension how large groups of people with similar backgrounds will act.)
On the other hand, I also used to joke “someone’s gotta adjust the Vanguard” back before I knew “Vanguard” was also the name of a neo-nazi group[1].
Someone has to at least pick high level things like the ratio of stocks to bonds, national to international, that sort of thing… and I’d remarked to many people in many contexts that one downside to index funds is that folks selling off shares might have a disproportionate effect on the market.
Especially if the person selling explicitly mentions they’re purposely selling over 10k’s worth to trigger a report to the feds, because they feel they’re facing persistent issues with irrational actors, so it’s time to get cash into your checking account in preparation for emigration, since the state refuses to honor its promises unless you make them think the alternative is… well go look at the returns for VASIX[2]since about October 2021 and use your imagination :-)
[1]https://en.wikipedia.org/wiki/Vanguard_America
[2]https://fundresearch.fidelity.com/mutual-funds/summary/92190...