Jack Bogle built Vanguard on a belief that completely changed investing for millions of ordinary people:Most investors are better off owning the entire market through low-cost index funds than trying to beat it through expensive active management.He believed that many professional fund managers consistently failed at timing the market, especially during major cycles."They had 14 percent in cash at the beginning of this bull market and only 4 percent at the peak. They were bearish when they shoul

What Is a Bull Market? Causes and History | The Motley Fool