Vanguard Should Get Active
Size, value and profitability are good lenses in any era.
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As my Bloomberg News colleagues reported earlier this week, the financial juggernaut known as Vanguard added $185 billion to its low-cost and passively-managed funds so far this year, “which puts it on pace to…" wait for it, wait for it, "...bring in more money in one year than any asset manager in history.”
Vanguard deserves its success. It's brought low-fee, principled investing to the masses in a singular and admirable way.