Michael Burry, investor and mortgage crash money maker*, caused a stir in September when he called index funds a bubble, akin to subprime mortgages. Some High Priests of finance and fans of passive approaches lashed out on social media. Indexing is popular. Even Warren Buffett, a lifelong non-indexer, recommends index funds for 90% of his estate once he dies. Burry's unpopular view fits in the category of the Peter Thiel type question: "What important truth do very few people agree with you on? ...
