Masters in Business: Vanguard CEO Bill McNabb Podcast
“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.
The ACAP Strategic Fund's managers see a "significant scarcity of attractive asset allocation choices globally," but also a strong environment for fundamental stock picking. Q2 2021 hedge fund letters, conferences and more According to a copy of the fund's second-quarter investor update, which ValueWalk has been able to review, its managers currently hold a balanced Read More
In a wide-ranging 2-hour interview, McNabb noted the institutional advantages Vanguard enjoys, and why he intends to keep pushing costs lower: The firm is a mutual, owned by its investors, and not beholden to shareholders.
Audio below and see the full text here