4 ms·The market is like a giant voting machine but not really a fund, since nobody is managing it.by jonbarker 9y agoThe market is like a giant voting machine but not really a fund, since nobody is managing it.kgwgk 9y agoIndex funds exist since the seventies.jonbarker 9y agoIndex funds actually still have a manager, whose only job is to rebalance periodically and accurately.