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Vanguard’s 50 Years of Indexing: Why Wall Street’s Biggest ‘Folly’ Won the Long Game
Barrons.com19d agoneutral
Vanguard’s 50 Years of Indexing: Why Wall Street’s Biggest ‘Folly’ Won the Long Game

In 1976, Rocky was the sleeper movie hit of the year, America celebrated its bicentennial, and Vanguard launched the first index fund. The last event may not have made a huge impression at the moment—in fact Vanguard’s First Index Investment Trust was met with ridicule—but it ultimately sparked a financial revolution that has made investors billions of dollars. The First Index Investment Trust, which later became the came to life a year after John Bogle founded Vanguard.