Trillions: The Rise of Passive

Plus: KKR, US Bank Deposits, NerdWallet

I don’t know if you remember what you were doing in the summer of 2019? I do. I was hiking the Via Spluga, an ancient Alpine trading route that runs from Switzerland into Italy. Occasionally, I’d pull out my phone to check directions, taking a sneaky look at how markets were doing at the same time. Talk was of a trade war between the US and China, but t…