The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 62 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 2 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Vanguard cuts allocations to active investment managers that grow too large
“When they think they've gotten to a scale with a manager that that manager is now going to run the risk of being too big, they will take money away and go look for other managers.”
Vanguard trained executives to answer customer phones during market panics
“Everybody in management Including Bogle and Brennan and most of the others, got trained, and it took a couple of days of time for each person to get trained on how to answer the phones and how to do the job. So if there was a problem all of a sudden in the mar…”
Vanguard manages $50B in OCIO and nearly $200B in retail advice
“50 plus billion dollars in the OCIO space, close to two hundred billion dollars on the retail advice space.”
Vanguard manages approximately $4 trillion in indexed assets
“So if you can do the math, then it's probably closer to four trillion on the indexing side, which would be ETFs and traditional mutual funds.”
Vanguard's private equity fees are weighted toward carried interest
“All I would say is that the majority of the fee is in the carry, meaning that there is alignment of incentives for the audience.”
Vanguard grew from $300 billion in 1997 to nearly $6 trillion
“So in the last 23 years since I arrived, we had 300 plus billion when I got there. Today, we're close to six trillion dollars.”
Indexing grew from under 10% to over 50% of equity mutual funds
“In 1997 indexing was under 10% of mutual fund assets. And now it's over 50% of mutual fund assets on the equity side.”
Private equity return dispersion is high and top GPs are oversubscribed
“You can clearly see the dispersion of returns in private equity are significant. And a lot of the top GPs are oversubscribed and full and not taking on new clients.”
Vanguard manages nearly $2 trillion in actively managed strategies
“Close to two trillion dollars in active management, both on the money market side, public fixed income side, and public equity side.”
Seides: One Trillion of Vanguard's Assets Are Actively Managed
“Three trillion in assets. What a lot of people don't know is one trillion is actively managed.”
Perold: Vanguard manages a significant portion of its assets in active funds
“Vanguard, as you just said, has a lot of active product. A very significant part of our AUM is in actively managed funds. Equities, various kinds of fixed income, things like that.”
Comegys: Vanguard's Global Indexing Group Employs Roughly 50 People
“I have roughly 30 people here in the U.S. I have another 20 folks globally.”
Housel: My parents have dollar-cost averaged into Vanguard funds since 1990
“My parents have no financial education, no financial background, minimal financial interest, but because of their personality, they have dollar cost average in the Vanguard index funds since I think, 1990, never sold a single share.”