Day: May 24, 2018💾

"Jack Bogle is the founder of the Vanguard Company and created the first index fund in 1976. He set out to create a way to invest passively instead of relying on mutual fund managers making buy and sell decisions in an effort to outperform the market. His research found there's no way for a mutual fund to consistently outperform the market long term, but they can consistently underperform the market due to excessive costs such as management fees and taxes. Index funds simply aim to match the market returns as closely as possible."