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 .   Vanguard     -



Copyright  2019 by John C. Bogle.

All Rights Reserved. This translation published under license with the original publisher John Wiley & Sons, Inc.

  .,    , 2022

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P. S.   ,  ,    ,       www.johncbogle.com.







 


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   ,     (https://www.litres.ru/dzhon-k-bogl/derzhites-kursa-kak-osnovatel-vanguard-sovershil-indeksnuu-re/)  .

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notes








1


 .  :   ,     . .:  , 2020.




2


 .  .   . .: , 2016.




3


 .    .     ,    .: ,  , 2020.




4


 ,  .  .  ,  . .: ,  , 2018.




5


 .   .     . .:  , 2020.




6


 .   -:     . .: , 2020.




7


   25%     .  ,    . . . .




8


      7,2  (  2022).  ,   ,      ,       . . . .




9


   ,      .    ,     . . . .




10


C. T.F.Bresnahan and S.C.Salop, Quantifying the Competitive Effects ofProduction Joint Ventures, International Journal ofIndustrial Organizations 4, no. 21986): 155175; J. Azar, M.C.Schmalz, I. Tecu, Anti-Competitive Effects ofCommon Ownership, Competition Policy International 1, no. 3(2016); E. Elhauge, Horizontal Shareholding, Harvard Law Review 129(March 10, 2016): 12671317;  E. Posner, F.S.Morton, and G. Weyl, AMonopoly Trump Can Pop, New York Times, December 7, 2016.




11


   :    ,      () . . . .




12


       . . . .




13


     . , 2022 Vanguard  7,2   . . . .




14


        ()       .             . . . .




15


     ,   SEC,      , -, , 1 1968. . . .




16


  Investment Company Institute 2021,     23,9 ,  5,4  ETF.  . .




17


 1960      IPO       Wellington Management Company (  ).




18


-黠      (  ),  1960-.                 -. . . .




19


,    , ,       ,    .


