Of course, there are more ETFs than individual stocks
A multitude of choice might not necessarily be a good thing for investors
A multitude of choice might not necessarily be a good thing for investors

But it relies on a host of rosy assumptions going in investors’ favour

Markets have shrugged off everything from geopolitics to financial crises

Portfolio management should be based more on themes such as innovation

Stock market resilience simply reflects the fact that new share issuance remains very subdued

Former financiers might assume a knack for picking winners, but investing alone requires a different set of capabilities

Concerns about concentration and valuation should be kept separate