Jump to content
whyme

Ominous? Vanguard drops "at-cost" and "non-profit" claims the day Bogle died

Recommended Posts

Barry Ritholtz offered good insight in this article. After all, is Vanguard a non-profit?

Share this post


Link to post
Share on other sites

Remember when Vanguard fought against the fiduciary rule? I do.

I think it is important to put ideals on a pedestal rather than the people or organizations that we think/hope represent those ideals. Otherwise we're prone to blind loyalty that ultimately hurts people (just look at how the Catholic church continues to make headlines).

Share this post


Link to post
Share on other sites
5 minutes ago, EdLaFave said:

just look at how the Catholic church continues to make headlines).

I was raised a Catholic, went to Catholic School as a kid  and am still a Catholic.But I'm kind of amazed at all that has gone on with this institution in the past and present. Actually I'm greatly disappointed. I would not panic about  Vanguard but we must keep our antennas up for sure. 

Share this post


Link to post
Share on other sites
39 minutes ago, tony said:

I was raised a Catholic, went to Catholic School as a kid  and am still a Catholic.But I'm kind of amazed at all that has gone on with this institution in the past and present. Actually I'm greatly disappointed. I would not panic about  Vanguard but we must keep our antennas up for sure. 

I’m an atheist now, but I was raised Catholic for many years. The first story that broke was quite a surprise to me too, but now I expect it.

Maybe it is an oversimplification and I know both genders are capable of awful behavior, but I expect really bad news from any powerful organization run entirely or predominantly by men. Diversity and distribution of power are really great things to have.

With respect to Vanguard, literally 100% of my investments are with them. However, I plan to evalute Fidelity’s ZERO funds in a year or so and I will switch if they are as great as they look.

 

Share this post


Link to post
Share on other sites
2 hours ago, EdLaFave said:

Maybe it is an oversimplification and I know both genders are capable of awful behavior, but I expect really bad news from any powerful organization run entirely or predominantly by men. Diversity and distribution of power are really great things to have.

It really doesn't come down to male, female , black white etc. It's all about ethics and usually the ones in power eventually think the rules don't apply to them.  I think Diversity of power is key.Thinking that the world might be a better place if run by let say  females is an entertaining thought but chances are it would be just as bad with them eventually. The oppressed sometimes become the oppressors and once in power  the abuse of power and trust would be the same. It's called human nature. In some ways our forefathers tried to prevent this abuse through government balance of power. But as we now see all this "balance of power" causes gridlock. 

Share this post


Link to post
Share on other sites
4 minutes ago, tony said:

Thinking that the world might be a better place if run by let say  females is an entertaining thought but chances are it would be just as bad with them eventually.

Maybe everybody would suck equally given enough time and power, but I struggle to think of female dominated groups that have lost their minds the way men have. Male dominated groups are easy to name: war prone governments, the Catholic Church, male sports (Penn State for instance), financial industry, frats, and so on.

I’m way off topic though. Sorry. I guess my point is to try to judge Vanguard (or anybody) based on their actions rather than our sentimental notions. I’m still a big fan of Vanguard, but I don’t trust them the way I used to. I certainly don’t trust them the way I would trust Bogle. 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×