3 ms·

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 8y ago
  Index funds are agents of their certificate owners, so no principal-agent problem. Seems fine to me.
  • repsilat 8y 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.