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As the Nikkei tumbles into bear market mode, active funds suffer material outflows and passive ones gain substantially, detractors wonder how ETFs will hold up under protracted bearish conditions, especially when their promise of liquidity is to be tested.
Funny thing, the other day I was talking to a seasoned financial translator who expressed surprise and a contrary view when I said that I cannot remember a time in my life with so many (respectable financial) voices expecting a bearish turn.
He was optimistic and felt the market were reasonably upbeat.
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