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Well, I think "hypocrite" is perhaps a bit harsh.


He thought one thing for a while.
A few years later he starting thinking another thing...his One Big Idea, which seems to have had value. He stuck with that.

Having a change in stance is OK.
In 1960 he was 31 years old. I certainly don't espouse all of the notions I held strongly at age 31.
Mr Bogle describing the Mr Bogle of 1966: "I was naive, overconfident, full of every kind of bad attitude."

Had he clearly believed one thing yet advocated the other at the same time, or believed the low-fee index idea while paying himself billions, then more harshness would be appropriate.


But the timing is suspect. He lost his job with Wellington in 1973, and immediately became a convert to passive management.
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