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Arpit Gupta questions the concept of a truly passive index, stating that even standard index options involve making choices regarding which assets to include.
He emphasizes that these choices differ across indices, challenging assumptions about the neutrality of passive investment vehicles.
Gupta has previously highlighted ongoing debates about economic measurement and wealth inequality in both the U.S. and Europe in earlier commentary. He has also questioned why retail investors missed out on $5 trillion in value from private market investments in OpenAI, Anthropic, and xAI, as noted in a separate report. His recent comments continue a focus on the structural features that shape access to, and perceptions of, investment opportunities.