Happy Birthday to a Great Investing Idea

Today, one of our favorite financial journalists, Jason Zweig of the Wall Street Journal, reminded us that it was forty years ago this week when John Bogle introduced Vanguard’s S&P 500 Index fund to the investing public. Although technically not the first index fund to exist, it was the first one made available to a wide audience. Starting with just $11.3 million of assets (well short of the $150 million target set by Bogle), it met with a large amount of skepticism.

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