It’s Vanguard’s world — we just live in it

Ahoy, matey: It’s Vanguard’s world, and we just live in it. From a long profile of the purveyor of low-cost mutual funds in the New York Times: “In the last three calendar years, investors sank USD 823 bn into Vanguard funds, the company says. The scale of that inflow becomes clear when it is compared with the rest of the mutual fund industry — more than 4,000 firms in total. All of them combined took in just a net USD 97 bn during that period, Morningstar data shows. Vanguard, in other words, scooped up about 8.5 times as much ¬ as all of its competitors.”