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#57 John Bogle: Stay the Course: The Story of Vanguard and the Index Revolution
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The Importance of Putting Customers' Needs Before Their Own
The concept that fund managers could not add value to their client's wealth once considered nearly heretical is now broadly accepted. The only way for the 100 million families whom the mutual fund industry serves to maximize their share of the financial market returns, they earn as a group, is by minimizing their costs. Vanguard was successful because they put their customers' needs before their own.
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