FYI: Jack Bogle, the founder of the Vanguard Group and father of indexing who died Wednesday, didn’t just get the last laugh.
He got virtually every laugh.
That’s because he bet his entire career and his mutual-fund firm on the notion that the vast majority of active fund managers would be unable to beat a simple index fund. And there was hardly a single calendar year since 1976, when he created the Vanguard 500 Index Fund VFINX, +0.22% in which he was wrong.
Regards,
Ted
https://www.marketwatch.com/story/jack-bogle-mutual-fund-industry-agitator-got-the-last-laugh-2019-01-16/print
