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Whoops, I meant to say it's not-for-profit because it's owned by its customers. If you buy any of their funds, you also buy a small piece of Vanguard. To be pe
by asdfman123 8y ago
Whoops, I meant to say it's not-for-profit because it's owned by its customers. If you buy any of their funds, you also buy a small piece of Vanguard.
To be pedantic, I don't know if you would classify that as not-for-profit or not, but the point is there isn't some external entity trying to make a profit off of you.
- gowld 8y agoThat "not for profit" (mis)intetrpretation is a huge myth. The execs of vanguard take home salaries and bonuses based on their performance, as decided by management (themselves). That's economically equivalent to them being owners and taking profits.