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March 26, 2026

When the crowd becomes the market

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Crowd of investors watching a bull and bear facing off in front of rising and falling market charts, illustrating how passive investing and crowd behaviour can influence market volatility.

A stylised financial market scene showing a large crowd of investors observing a bull and bear confronting each other above a set of fluctuating market charts and financial data. The image reflects the idea that when passive investing dominates markets, collective investor behaviour can influence price movements and volatility.