7 ms·

Yeah, definitely good points. Even with a department looking after voting, they're not nearly as "vested" in the results of their voting as something like an ac

Yeah, definitely good points. Even with a department looking after voting, they're not nearly as "vested" in the results of their voting as something like an actively managed long value fund is.

repsilat 7y ago
They also have large conflicts of interest -- they don't just own a big chunk of a company, they own a big chunk of its competitors too.
- ahartmetz 7y ago
  Index funds are agents of their certificate owners, so no principal-agent problem. Seems fine to me.
  - repsilat 7y ago
    It's not principal agent problem, it's a competition problem. Maybe Sprint can't buy T-Mobile, but if Vanguard owns both it amounts to the same thing.