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It is designed to broadly represent the economy, so this makes sense and makes an S&P 500-based ETF a good pick for passiveinvestors. However, if you are a dividend investor, Vanguard High Dividend Yield ETF could offer a similar solution with an income twist. That said, there's one problem.
00:04:36 [Speaker Changed] And then you end up actually at Canyon Capital, previously, I, I had Dominic Neal as a guest, but you stood up, they’re an LA outfit, you stood up the New York office and ran about $5 billion for them. That’s what led to Ice Farm Capital. Luck is 00:07:30 [Speaker Changed] Better. Luck is better.
There's been a lot of different sectors, has been a capital retention management style where companies are holding capital and a lot of their building up cash and they want to return that cash to shareholders. Also the biggest point that we make in the book from this perspective is the passive revolution. Lawrence McDonald: Yes.
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