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You might want to look at some of John Bogle's speeches at:
http://www.vanguard.com/bogle_site/bogle_speeches.html

One which looked to be of possible interest was The Mutual Fund Industry 60 Years Later: For Better or Worse?
http://www.vanguard.com/bogle_site/sp20050102.htm

I have some 1929 issues of Popular Science Monthly magazine which has some articles and advertisements for Investment Trusts. I suspect that these may be the predecessors of the modern mutual funds.

Bob
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