Betting Against Market Fads

摘要

John C. Bogle: founder of Vanguard, champion of the little guy, inventor of the re tail index fund. Could he be wrong about one aspect of indexing? Fundamentally wrong? A battle has broken out about how to construct an index fund. Leading one camp is Bogle, the retired chief of Vanguard Group and the world's most vocal proponent of passive investing. In his dogma the only right way to weight positions is with each com pany's market value.