This concise book pulls no punches as it explains in its easy-to-read, candid, and informing way why indexing works so well and how this strategy will continue to gain momentum with active investors.

"A "problem of twelve" arises when a small number of institutions acquire the means to exert outsized influence over the politics and economy of a nation. The Big Four index funds of Vanguard, State Street, Fidelity, and BlackRock control more than twenty percent of the votes of S&P 500 companies--a concentration of power that's unprecedented in America. Then there's the rise of private equity funds such as the Big Four of Apollo, Blackstone, Carlyle...