Passive Index Funds the REAL Speculative Bet in 2026?

Chris Hestelow, Investment Specialist at Allan Gray, talks to me about the 'Passive vs Active' debate, AI concentration risks in index funds, and reflexivity/dynamic feedback loops that distort true price discovery in markets. Do you prefer passive, or active investing? Why not both? Now you can invest in an ideal KiwiSaver fund that allows you to take greater control of your asset allocation. Book my free 15-minute discovery call: https://darcyungaro.com/contact-us/ Thank you to our SHOW PARTNERS: Provincia: Unlisted commercial/industrial property funds and management service (www.provincia.co.nz) Swyftx: Sign up and get $20 worth of free Bitcoin: https://trade.swyftx.com/register/?ref=5IFFTWZM41I3C6OO Sign up to the fortnightly newsletter: http://reporting.demand.co.nz/h/r/FBD4D9B7B11F82512540EF23F30FEDED - Hatch: https://app.hatchinvest.nz/share/uqhcj8y8 - Sharesies: https://sharesies.com/r/RRPR6X - Revolut: https://revolut.ngih.net/c/4753264/1765204/9626 Disclaimer: Please act independently from any content provided in these episodes; it's not financial advice, because there's no accounting for your individual circumstances, and nothing we say is intended as a recommendation. Do your own research, and take a broad range of opinions into account. Ideally, engage a financial adviser / pay for advice!