I guess I missed this piece from Josh Brown the first time, but his take on why the next generation has no love for the stock market is an excellent window into the great shift in institutions that we are all experiencing. Read the whole thing, but I love this list in particular.
A brief and far-from-complete list of the people and things that have lost all credibility since the the year 2000:
1. Brokerage firm analysts
2. Chief Global Strategists
3. Every Single Regulatory Body
4. Every once-great money manager
5. The entire profession of Economics
6. S&P, Moodys and the ratings agencies
7. Morningstar’s mutual fund rankings
8. The mainstream financial media in its entirety
9. Corporate Executives in the Aggregate
10. The entirety of the banking and financial sector
13. Our politicians’ grasp on the economy
14. The ability and sagacity of the Federal Reserve
15. The structural integrity of our stock exchanges
Dude, is that all?