The difference between a great business and a mediocre one is often that the great business keeps compounding capital at high rates of return for decades, while the mediocre business cannot. Most people underestimate how powerful this difference becomes over time.
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If only we allowed it to. But what generally gets in the way is something called repugnance, which we'll get to. And um and that we that we should overcome our a priori ideas when they're wrong, which is what science is all about.
Origins Podcast
And in several cases, there's evidence suggesting that the anonymous people who made these bets may have had insider information.
Throughline
Jack Bogle and Vanguard are responsible for a trillion dollars of wealth transfer out of the pockets of Wall Street and the finance industry and into the pockets of individual investors in the form of fees that they didn't have to pay.
Acquired