lukestein’s Twitter Archive—№ 4,018

@alphaarchitect @BillWinterberg @RadenJake @eervin1 @EricBalchunas @Peter_Atwater @michaelbatnick Indexing is *very* cheap, so “skip fund mgmt fees” feels like a red herring… there’s not much margin there to undercut, and very hard to beat big indexers’ execution costs and other economies of scale. The case for “direct indexing” is tax optimization, which *can* be valuable.