Indexing Has Been ‘Bastardized,’ Says Jack Bogle

Vanguard’s value proposition, your fair share of market returns at a low cost, has proven to be extremely popular capturing 60% of the mutual fund industry’s net cash flow this year with $3 trillion in assets under management. And it’s not just Vanguard, index and index-like products have proliferated as all manner of ETFs have started to crop up for different slants on the market, but Vanguard founder Jack Bogle isn’t impressed. “I’m just a simple guy. I started off with an idea that has been, for want of a better word, bastardized. Our S&P 500 index fund—the world’s first…