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Is There a Level at Which Index Funds Do Get Too Big?
Is there a level at which index funds do get too big where they would start pushing the prices around? I don't think every investor is going to be an index investor. By doing so, we can have low tracking air and keep it tight to the index itself. Two, we can think about market impact and trying to reduce those short-term index that Michael and I talked about when a stock is added to index. We can think about taxes and ultimately where we can, we want to add value through something like securities lending.