Wells Fargo created an index fund a few years before Bogle did, but available only to institutional investors. Guess which index it followed?He did not create the first index fund. He wrote his thesis in 1951. The S&P 500 was founded in 1957. Facts.As another poster already noted, that's not true. But even that aside, why do you think when Jack Bogle created the first index fund, that he chose to use the S&P 500 and not the DJIA?When Jack Bogle wrote his thesis, the Dow was the only index. Even then, he said that it would be hard for someone to beat the index, meaning the Dow.
The S&P 500 was not founded in 1957; it was expanded and renamed in 1957, but the index existed as far back as 1923. Certainly your earlier statement that "When Bogle wrote his thesis, the Dow was the only index" is just plain wrong.
Facts.
Statistics: Posted by 02nz — Wed May 08, 2024 8:50 am — Replies 56 — Views 4276