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Jack Bogle, Father Of Simple Investing, Dies At 89

Bogle, the founder of Vanguard who created the first index mutual fund, died Wednesday, the firm said. He said investors should own a mix of bonds and stocks but shouldn't pay managers to pick them.

Updated at 1:00 a.m. ET Thursday

Jack Bogle, the founder of Vanguard who created the first index mutual fund for individual investors in 1975, died Wednesday at the age of 89, the company said.

Bogle transformed the way people invest. He believed that investors should own a mix of bonds and stocks but shouldn't pay investment managers to pick them.

That approach to investing became what economists regard as the

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