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

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The Reality of Stock Market Bubbles and the Lessons from the Past

During the stock market bubble of the 1970s, stocks like Xerox, Polaroid, and IBM were highly valued but eventually crashed. This affected not only mutual fund managers and institutional investors, but also insurance companies and college endowment funds. The US stock market fell by 50%. The book 'The Big Short' by Michael Lewis offers an entertaining and informative perspective on these events.

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