They don't own the assets hey manage, so they can't overvalue and go pop like Enron did. Ways to pop Vanguard: - Pop the stock market - Game their indexes -

They don't own the assets hey manage, so they can't overvalue and go pop like Enron did. Ways to pop Vanguard: - Pop the stock market - Game their indexes - Insider trading You notice how a lot of people are already trying to do all three so it's not easy to pop Vanguard.