The Minutes of Marc Rowan on indexing https://minutesof.com/marc-rowan/on/indexing/ Everything Marc Rowan has said on indexing: 6 verbatim quotes between December 2023 and April 2026, each with a timestamp and a link to the recording it… en Sun, 30 Aug 2026 16:22:33 +0000 Rowan argues ten companies now represent nearly 50% of S&P 500, all concentrated on one trend. https://minutesof.com/q/76c51df6-50a3-4891-9850-6a9174cadd05/ https://minutesof.com/q/76c51df6-50a3-4891-9850-6a9174cadd05/ “Have 10 companies today who account for nearly 50% of the S and P 500, and those 10 companies are all levered to one trend.” — CNBC Events Thu, 16 Apr 2026 13:25:25 +0000 indexing Rowan attributes active managers' failure to beat indexes to market structure changes, not lack of skill. https://minutesof.com/q/9cbe416c-1b8f-4281-89e2-021924353f1d/ https://minutesof.com/q/9cbe416c-1b8f-4281-89e2-021924353f1d/ “Most active managers have failed to beat the index 90% of the time for twenty years. I don't think it's a result of lack of effort or intelligence.” — Marsh Fri, 06 Feb 2026 21:54:43 +0000 indexing Rowan predicts a private company index will exist alongside the S&P 500. https://minutesof.com/q/fed74b86-f74a-4fd4-a917-b7be6526e7a7/ https://minutesof.com/q/fed74b86-f74a-4fd4-a917-b7be6526e7a7/ “It will not surprise me that we end up with an S and P 500 index and an index of companies that are private.” — CNBC Television Wed, 03 Sep 2025 12:01:15 +0000 indexing Rowan says 100% of returns this year came from 10 stocks at 50 PE, which few would actively buy. https://minutesof.com/q/eef74626-e7d3-48c1-8e85-4c58e18ae84c/ https://minutesof.com/q/eef74626-e7d3-48c1-8e85-4c58e18ae84c/ “A 100% of our returns this year are from 10 stocks which constitute 35% of the S and P that traded an average PE of 50.” — Bloomberg Podcasts Tue, 05 Dec 2023 19:05:29 +0000 indexing Rowan states active management has failed to beat the index 85% of the time for twenty years. https://minutesof.com/q/91e6ca39-ca6a-46fa-93b8-1947efec79d1/ https://minutesof.com/q/91e6ca39-ca6a-46fa-93b8-1947efec79d1/ “If you look at the active management, active management has failed to beat the index 85% of the time for twenty years.” — Bloomberg Podcasts Tue, 05 Dec 2023 19:05:29 +0000 indexing Rowan states active management has failed to beat indexes 85% of the time over twenty years and will get harde https://minutesof.com/q/cb92cec8-5246-496f-90f9-c0d4d1cc950d/ https://minutesof.com/q/cb92cec8-5246-496f-90f9-c0d4d1cc950d/ “If you look at the active management, active management has failed to beat the index 85% of the time for twenty years.” — Bloomberg Television Tue, 05 Dec 2023 15:03:34 +0000 indexing