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Vanguard took decades to gain any traction and it was managed well enough to ensure it didn't prematurely burn out, and not only that but Jack Bogle spent his e
by ihsw2 9y ago
Vanguard took decades to gain any traction and it was managed well enough to ensure it didn't prematurely burn out, and not only that but Jack Bogle spent his entire life evangelizing low-cost in an environment where "cost is no object" was a common mantra.
Not only that but the healthcare industry has extraordinarily high financial and legal barriers to entry.
- 013a 9y ago> Managed well enough Unlike Amazon and Berkshire, two of the best managed companies humanity has ever created? > Extraordinarily high financial and legal barriers to entry Unlike financial companies?
- ihsw2 9y agoThere are extraordinarily high expectations in the finance industry but the only barriers are regulatory compliance (with regards to fiduciary duty) and convincing people to throw money at you.
- nabla9 9y ago>extraordinarily high financial and legal barriers to entry. If there is a company with enough muscle to force themselves into the business, it's Berkshire.
- ihsw2 9y agoConsidering their already extensive ground in insurance and JP Morgan's financial acuity, Amazon is in good hands. I know I'm hoping they encounter some success.