Sanford C. Bernstein Compared Passive Investing to Marxism and Now It Has 2 ETFs
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Sanford C. Bernstein & Co. once declared that the rise of passive asset management would be worse for society than Marxism. Now it appears to have experienced a change of heart.
The New York-based research and brokerage firm is launching a pair of exchange-traded funds a little more than year after it published a widely read note titled “The Silent Road to Serfdom: Why Passive Investing is Worse Than Marxism.”