Sam Zell Remembers Vanguard's John Bogle

The transcript discusses the role of Commonwealth REIT and Vanguard in governance, the rise of passive investing and its effects on business, the dynamics of private capital in the market, and the decline of hedge funds impacting research. It highlights concerns about the growing influence of index funds and the potential risks associated with them.

What is the speaker's perspective on the impact of index funds on private capital?

According to the speaker, what is the risk associated with the increasing percentage of index fund investments?