Eric Balchunas on the Vanguard Effect
Masters in Business
00:00
The Vanguard Effect
Vanguard is a mutually owned company, write the investors and funds on the company. It's more akin to an insurance coadany than a typicaor cooplom trad or a non profit. The decision was the biggest, i think the single biggest decision in the last 50 years. Indexing is just a lucky by product of that decision. If indexing was expensive, it wouldn't really catch hold.
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