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Also they simultaneously hold the ownership rights as well as equivalent owenrship liabilities, so they own shit squat in net terms (excpet maybe their manageme
by TZubiri 2y ago
Also they simultaneously hold the ownership rights as well as equivalent owenrship liabilities, so they own shit squat in net terms (excpet maybe their management fees).
- mattkrause 2y agoIt’s even weirder than that! Vanguard has an odd corporate structure where it’s owned by the funds that it manages, so it’s effectively a co-op owned by its customers.
- _yb2s 2y agoI don’t understand why customer owned co-ops aren’t ubiquitous. Vanguard is amazing- low fees, and great services- they beat all of the competition. I had to call their support line today and it was the most professional customer service I’ve ever experienced.
- TZubiri 2y agoInteresting, that's inline with Bogle's mission for low (0%) mgmt fees. I think it probably doesn't apply to other majority holders like BlackRock though.