> Vanguard offers Gold ETFs. Now they would say something ike 'oh that's because gold is used as an actual product ie has a purpose'. But most people accept tha

> Vanguard offers Gold ETFs. Now they would say something ike 'oh that's because gold is used as an actual product ie has a purpose'. But most people accept that gold is also speculative and is the way it is simply because it's been that way for such a long time vs. it's inherent value or purpose. Bogle was kind of a gold bug. It's unsatisfying and inconsistent and I agree you could make a similar argument for excluding gold if it wasn't already kind of grandfathered in. > Stock investing is by and large gambling and whatever income the stock owns in no way really flows measuably to the person who owns stock in the company but seems to drive some type of accepted value going forward. No, stock investing and gambling are absolutely incomparable. Income clearly and directly flows to owners; it's not obscure.