Twenty five years ago, a young investor named Bill Ackman made an astute observation about indexation to investing legend Charlie Munger.

Bill Ackman went on to be the founder and CEO of Pershing Square Capital Management, a successful hedge fund management company.

Ackman’s personal wealth is well over $1B, but he is also an advocate for philanthropy. He is a signatory of The Giving Pledge, committing himself to give away at least 50% of his wealth to charitable causes.

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