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A PricewaterhouseCoopers audit partner failed to scrutinize millions of dollars taken from a venture capital fund under the guise of "advanced management fees," the U.S. Securities and Exchange Commission said in a complaint on Monday. Full investment news article
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Twenty years ago, a young investor named Bill Ackman made an astute observation about indexation to investing legend Charlie Munger. “We’ve heard a lot of discussion about how institutions and individuals use index funds,” Ackman, then 30, said to Munger at The Buffett Essays Symposium, a conference that took place in October 1996. “But to the extent that more and more capital becomes indexed — and if you think about index fund managers as really being a computer, then in terms of ... Full investment news article