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