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Vanguard’s founder, John Bogle promoted the idea that index funds such as the Vanguard 500 can outperform most actively managed funds because they have lower management fees and trading costs.

(Bloomberg) –John Bogle, who popularized the low-cost index-based mutual fund as founder of Vanguard Group Inc. and insisted that most stock-picking money managers weren’t worth the fees they charged, has died. He was 89.

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