The Ledger
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Rival index funds like BlackRock would not exist without Vanguard
“None of those other firms would be in this market or doing it in the same way if it weren't for Vanguard.”
Vanguard and rival index funds own 24% of the US stock market
“Vanguard is the largest shareholder of most U.S. Corporations, and together with the other big index funds like BlackRock, State Street, and Fidelity, they own 24% of the entire U.S. Stock market.”
Fidelity offers a far better product and service experience than Vanguard
“Fidelity is just a better product and product experience than Vanguard. So during the pandemic especially, it exposed that Vanguard's customer service and technology is like jank. It is not good. And there were a lot of horror stories of trades not going throu…”
Index funds cost nothing, yet asset managers remain highly profitable
“You can buy an S&P 500 index fund from basically anyone today at basically no cost, but also sort of wrong, because Capital Group, BlackRock, Fidelity, these are all giant profitable companies.”