The History of the Index Fund

The funds are able to do this because they are the shareholders of the stock itself, right? But they're investing money that other people have given them for their retirement fund. So you have a principal agent problem is that that's I guess the best way to describe it, right? Economists would call this a principal agents problem. Absolutely. And but for the longest time when these funds were created by Jack Bogle was the guy's name who created this, they didn't really do anything with this. The funds just they just let the boards run however they really wanted.