On: 'Flash Boys' IEX stock exchange opens for business

[sseveran]

Its not semantics. You simply don't know much about the asset management business. Vanguard has numerous actively managed offerings. For example Windsor (http://performance.morningstar.com/fund/performance-return.a...). But there are others like the Admiral funds.

[lmm → sseveran]

Any big enough company has small fingers in many pies. Vanguard's focus and specialty is their low-cost index (and similarly passive) funds.