The ongoing evolution of Vanguard's
] indexing has had another big impact on the financial world-- this time for Berkshire Hathaway
, reports Allan Roth for CBS News
The Vanguard Total Stock Index
fund will buy $1 billion worth of Berkshire stock.
The move results from an October 2 announcement that the giant index fund company is changing index providers for 22 of its index funds: from MSCI to FTSE and the University of Chicago's CRSP.
Berkshire has two different share classes, but MSCI included only the B share and left out the A share. Since Berkshire's total value comprises both share classes, the CRSP index includes both. The additional purchase represents about 0.5 percent of Berkshire shares.
To read more about the change, go to the CBSNews article.
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