Eric Balchunas on the Vanguard Effect
Masters in Business
00:00
The Freak Accident - I Can't Manage a Fund?
Bogle's contract says he cannot manage a fund, and so he comes up with this very clever back door. The idea that an index fund wouldn't be quite managed was also a lucky break. In the 60 seventies, even eighties, if you wanted to know how your fun was doing day to day, week to week, month and month, quarter to quarter, year to date, most of the time, it didn't exist.
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