> It happened with the index fund – easily the most important financial innovation of the last half-century. John Bogle launched the first index fund in 1975. N

> It happened with the index fund – easily the most important financial innovation of the last half-century. John Bogle launched the first index fund in 1975. No one paid much attention to for next two decades. That's in part because everyone was googly-eyed over managed funds thanks to Peter Lynch's 29% average annual return for the Magellan Fund from '77 to '90. Index funds didn't beat that dude.