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#57 John Bogle: Stay the Course: The Story of Vanguard and the Index Revolution

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The WizKids: A Radical Step Forward

Mr. Morgan had become concerned about the growing trend towards speculative funds. He recognized a serious threat to his conservative philosophy and his business, with its near total dependence on the balanced fund. Mr. Morgan decided that it was time for new leadership and took a radical step. The nifty 50 craze in which stock prices of the nation's fastest growing companies lost all touch with their intrinsic values.

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