In your podcast players now: Vanguard is the most effective vehicle ever created for participating in the fruits of American capitalism.
Today it’s the single largest equity owner of the majority of corporations in the S&P 500, on behalf of 50 million clients (including, likely, many of you). And yet Vanguard itself is essentially a communist organization — it has no shareholders, makes no profits, and operates more like REI than Fidelity. If you own a Vanguard fund, you own a piece of the firm itself.
Any excess margin instead gets returned to clients in the form of lower fees, which since 1975 have added up to roughly five hundred billion dollars transferred out of Wall Street managers’ pockets and into retail investors’ savings accounts.
And oh yeah, it all started as a cockamamie revenge plot by a guy who’d just been fired by his partners. Today we tell the story of communist capitalism at its finest — Vanguard.
Ford tried to buy Ferrari and Enzo blew up the deal at the finish line
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🎙 From Ferrari: What happens when you staple a luxury brand to a sports team? (Audio)
The race after Enzo Ferrari's death Ferrari finished one-two at Monza
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🎙 From Ferrari: What happens when you staple a luxury brand to a sports team? (Audio)
Ferrari will always deliver one car less than the market demand
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🎙 From Ferrari: What happens when you staple a luxury brand to a sports team? (Audio)
The Ferrari in Ferris Bueller was actually a Ford
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🎙 From Ferrari: What happens when you staple a luxury brand to a sports team? (Audio)
The Ferrari F40 was a raw death machine with no luxury
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🎙 From Ferrari: What happens when you staple a luxury brand to a sports team? (Audio)
Ferrari is the only luxury brand with global cultural reach
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🎙 From Ferrari: What happens when you staple a luxury brand to a sports team? (Audio)
Ferrari has a higher market capitalization than Ford, Mercedes-Benz, and Volkswagen
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🎙 From Ferrari: What happens when you staple a luxury brand to a sports team? (Audio)
What separates motorsport champions from the rest?
#business #podcast
🎙 From Ferrari: What happens when you staple a luxury brand to a sports team? (Audio)
