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I agree with you that passive investment would have got the same gains, but it's much easier to see in hindsight, it was not that easy to see beforehand. He ma
by xiphias2 7y ago
I agree with you that passive investment would have got the same gains, but it's much easier to see in hindsight, it was not that easy to see beforehand.
He made money by burning other people and companies, but he came out quite well from it.
- throw0101a 7y agoNot being able to actively beat the market has been known since about 1973: * https://en.wikipedia.org/wiki/A_Random_Walk_Down_Wall_Street https://en.wikipedia.org/wiki/A_Random_Walk_Down_Wall_Street Bogle started Vanguard in 1975: * https://en.wikipedia.org/wiki/The_Vanguard_Group https://en.wikipedia.org/wiki/The_Vanguard_Group * https://en.wikipedia.org/wiki/Index_fund#Origins https://en.wikipedia.org/wiki/Index_fund#Origins
- usefulcat 7y ago"Known", yes, though probably not widely so. As I understand it, passive investing was generally considered a bad or at least risky idea at the time Vanguard was created.