 the pioneer of index investing. If you're not familiar with Bogle, he revolutionized the mutual fund world by creating an index fund. It's commonplace today, but at the time it was crazy to buy mutual funds that simply tracked a broader market. All the competition was saying, wait, why would you include the losers? Research managers find the one with the best track record of recent performance and let them buy and sell stocks throughout the year because you'll probably achieve great performance.