Vanguard's identity crisis: Passive or Active?

Vanguard claims they believe in both passive and active fund management, probably because they still have a trillion dollars in active funds. However, they seem to find it difficult to defend their active activities with anything but vague rhetoric. It seems that, once again, facts are a tough thing to overcome.

Plus, a question about hedge funds in general, and Cramer's in particular.

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Would you like a snow job with your free steak dinner?

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Hey active fund managers: Face facts. You can't beat the market!