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Money

The folly that outlasted its critics

In 1976, John Bogle launched the first index mutual fund for ordinary investors, and it raised a fraction of what he hoped. Research and a bestselling book show why costs matter so much. This is history and research, not financial advice.

Major #8: FinanceThe story: John C. Bogle (1970s). The book: A Random Walk Down Wall Street by Burton G. Malkiel.

About 8 minutes

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In this lesson

  • Fired, then a fund almost nobody bought
  • Bogle’s folly, decades later
  • What the research says
  • The book: A Random Walk Down Wall Street
  • What the evidence says about the book
  • Where this comes from
  • Try it today
  • 4 questions to check yourself

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