MSCI (MSCI): Is Its Index Toll Booth on Passive Investing Unbreakable?

MSCI Inc. (NYSE:MSCI) owns some of the most-used stock-market benchmarks in the world, like MSCI Emerging Markets and EAFE. Its best business is a toll booth on passive investing: every ETF or index fund that tracks an MSCI benchmark pays a recurring fee on its assets. At about $536 a share and $39 billion in […]