Towards the disappearance of listed equities?

Yields on listed equities no longer offset the very high volatility of share prices. This has various causes: the series of negative shocks and the growth of passive management and algorithmic trading. We should therefore expect a steady decline in demand for listed equities and in the role of listed equities as a source of corporate financ ing , and an increase in the role of unlisted equities (private equity, capital of family-owned companies, etc.). This will contribute to the global shift towards illiquid finance.