Ben Gilbert

“If you are an investor in a Vanguard fund, you own a piece of the firm. Vanguard is owned exclusively by its customers, and it's not publicly traded. It doesn't have outside shareholders of any other kind. Even the CEO doesn't have any equity.”

“If you invested $100,000 at age 25 and you got 7% market returns for 40 years, you'd end up with $1.5 million. But if you paid a 1% management fee along the way each year... instead of $1.5 million, you end up with $1 million. That's an extra 50% for your retirement that you could make by not paying 1% in fees each year.”

“Capital group manages three trillion in assets... the competitors were probably right to be terrified of this sort of communist act... But also sort of wrong because Capital Group, BlackRock, Fidelity — these are all giant profitable companies.”

“I started looking too, like, why doesn't Vanguard push their total market one stronger? Or why doesn't someone come up with a synthetic thing that looks a lot like the S&P 500 but isn't the S&P 500? Fidelity tried that... But people just don't flock to it. People want the standard.”