by Adam English
Outsider Club
Greed isn’t a bad thing on its own. However, it doesn’t exist in a vacuum.
It is great when greed is paired with something virtuous — be it a nebulous idea, such as innovation or efficiency, or something that even seems more counter-intuitive — like saving your customers money.
The last one may seem counter-intuitive, but look at passive ETFs. They save clients money compared to actively managed funds, and generate better returns over long periods of time.
Make no mistake though, those that create these investment tools are making a profit. They just found a virtuous combination that they, and us, can exploit.