The index fund turns 40 — and gets its revenge

Published 6 Min Read

“They said, ‘You want to buy all the dogs. … You just want to buy whatever garbage happens to be traded?’” Oldrich Vasicek, a mathematician who worked on one of the first index products, recalls.

But back in 1976, an investment firm executive wrote that all but “a very small minority” believe “index funds are a ‘cop-out’ and a fad that will soon disappear.”

Ben Steverman
Personal finance reporter

Ben Steverman is a personal finance reporter at Bloomberg.


For reprint and licensing requests for this article, click here.


More From Employee Benefit News

Sign Up Form

Login Modal Form