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Vanguard's total stock market fund is Snapchat's #1 mutual fund holder https://finance.yahoo.com/quote/SNAP/holders/ https://finance.yahoo.com/quote/SNAP/holde

by trimbo 7y ago

Vanguard's total stock market fund is Snapchat's #1 mutual fund holder https://finance.yahoo.com/quote/SNAP/holders/ https://finance.yahoo.com/quote/SNAP/holders/ AFAIK, most "target date" retirement funds use total market passive investing. Maybe instead of "index investing", I should have said "passive investing".

brown9-2 7y ago
Worth pointing out that the number in that table (which doesn't break things out by fund) for "Vanguard Group, The"'s holdings in SNAP seems to only be about 1% of the total of VTSMX https://investor.vanguard.com/mutual-funds/profile/VTSMX https://investor.vanguard.com/mutual-funds/profile/VTSMX
- trimbo 7y ago
  The table below the fold breaks it out by fund
conanbatt 7y ago
Good lord. Vanguard has 5% of Snap! Vanguard must own a significant share in so many companies right now. I'm starting to believe the narrative that the next crisis is passive investing.
- jonknee 7y ago
  Well they also have a significant share of invested funds ($5.3 trillion under management!), it would be really weird if they didn't have a significant share of many companies.
  - conanbatt 7y ago
    I guess the risk is that if people withdrew funds in a recession/crisis, they would blanket-kill every company out there, even companies doing really well.
    - jonknee 7y ago
      As opposed to all the recessions/crises before indexing where stocks didn't go down? Sharp people will scoop up great names at a discount just like always.
      - conanbatt 7y ago
        Its not the same: someone unwinding broad positions could sell anti-cyclical stocks that did not fall too hard and keep the ones lowest. Someone with index funds has no choice: has to dump the good and the bad.
        jonknee 7y ago
        Sure, which also happens every time there's a big down move in the market. Actually per prospect theory it is often the best performers that get sold first: https://en.wikipedia.org/wiki/Disposition_effect https://en.wikipedia.org/wiki/Disposition_effect Regardless, my point is smart stock pickers will come in and bid up companies that get oversold. No damage done unless you tried to time the market in your IRA and sold at the bottom. People who continue automatic purchases of broad indexes will be happy (at some point!) for the discount.
        ummonk 7y ago
        There are plenty of value stock ETFs out there. You don't have to go with an index fund.
        conanbatt 7y ago
        Nobody has to, but too many have, thats the whole point.
        thekyle 7y ago
        Value stock ETFs are index funds.
        ummonk 7y ago
  - ummonk 7y ago
    Remember when that kid was calling on a Vanguard boycott because it was the largest holder of gun stocks?
jonknee 7y ago
Wow, a whole $86m or .4% of SNAP!

by trimbo 7y ago

brown9-2 7y ago

Worth pointing out that the number in that table (which doesn't break things out by fund) for "Vanguard Group, The"'s holdings in SNAP seems to only be about 1% of the total of VTSMX https://investor.vanguard.com/mutual-funds/profile/VTSMX https://investor.vanguard.com/mutual-funds/profile/VTSMX

trimbo 7y ago
The table below the fold breaks it out by fund

conanbatt 7y ago

Good lord. Vanguard has 5% of Snap! Vanguard must own a significant share in so many companies right now. I'm starting to believe the narrative that the next crisis is passive investing.

jonknee 7y ago
Well they also have a significant share of invested funds ($5.3 trillion under management!), it would be really weird if they didn't have a significant share of many companies.
- conanbatt 7y ago
  I guess the risk is that if people withdrew funds in a recession/crisis, they would blanket-kill every company out there, even companies doing really well.
  - jonknee 7y ago
    As opposed to all the recessions/crises before indexing where stocks didn't go down? Sharp people will scoop up great names at a discount just like always.
    - conanbatt 7y ago
      Its not the same: someone unwinding broad positions could sell anti-cyclical stocks that did not fall too hard and keep the ones lowest. Someone with index funds has no choice: has to dump the good and the bad.
      - jonknee 7y ago
        Sure, which also happens every time there's a big down move in the market. Actually per prospect theory it is often the best performers that get sold first: https://en.wikipedia.org/wiki/Disposition_effect https://en.wikipedia.org/wiki/Disposition_effect Regardless, my point is smart stock pickers will come in and bid up companies that get oversold. No damage done unless you tried to time the market in your IRA and sold at the bottom. People who continue automatic purchases of broad indexes will be happy (at some point!) for the discount.
      - ummonk 7y ago
        There are plenty of value stock ETFs out there. You don't have to go with an index fund.
        conanbatt 7y ago
        Nobody has to, but too many have, thats the whole point.
        thekyle 7y ago
        Value stock ETFs are index funds.
        ummonk 7y ago
- ummonk 7y ago
  Remember when that kid was calling on a Vanguard boycott because it was the largest holder of gun stocks?

jonknee 7y ago

Wow, a whole $86m or .4% of SNAP!