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Vanguard CEO: “We Want to Drive Costs Even Lower”

TedTed
in Fund Discussions
FYI: We are not done on the cost side . . . We think we need to keep raising the bar on that.”

So says Bill McNabb, CEO and Chairman of the Vanguard Group. The firm, managing over $3.1 trillion dollars in client monies, has long been known for its obsessive focus on keeping costs low
Regards,
Ted
http://www.ritholtz.com/blog/2015/05/vanguard-ceo-we-want-to-drive-costs-even-lower/print/

Comments

  • STB65
    If I have done my math right, $3Tx0.01% = $3B, which equals a low load and enough money to hire very good employees. 1,000 at $1M/yr leaves you $1B for expenses. I'd work for that, even 80 hr/wk.
    Makes me want to review those administrative salaries in Valley Forge.
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