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#57 John Bogle: Stay the Course: The Story of Vanguard and the Index Revolution
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The Origins of Vanguard
Nobody in 1974 really could have predicted that an upstart firm founded at the bottom of a vicious bear market would overcome all odds and ultimately dominate the mutual fund industry. At the time I'm recording this, I think Vanguard has something like $6 trillion of assets under management. This industry literally did not exist in the 1970s. So it's really interesting to see the creation of a fundamentally brand new product, and then of course the predictable responses from the entrenched interests.
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