Brian Reid, Investment Company Institute: Two theses are often put forth on investors and their behavior. The first is that stock fund investors herd, or copy one another. The second is that there is something fundamentally different about investing in a fund compared to investing directly in securities, and that there may be a first-mover advantage.
Two Investor Behavior Theses
Vanguard’s move into PE may change the landscape forever
Private equity has been growing in popularity in recent years as more and more big-name funds and institutional investors dive in. Now even indexing giant Vanguard is out to take a piece of the PE pie. During a panel at the Morningstar Investment Conference this year, Fran Kinniry of Vanguard, John Rekenthaler of Morningstar and Read More