After graduating from Princeton, Jack Bogle worked at a big finance company!

He quickly became the CEO, but was fired after a failed business deal! 😱

So, Jack created his own company of professional investors called Vanguard 🏛️

Bogle believed investing should be easier and low cost for the average investor 🪙

So, Vanguard released the first index mutual fund in 1976 😮

Instead of actively picking stocks to invest in, an index mutual fund just tracks another investment or index! 🤩

Since stocks are added passively, index mutual funds are more affordable and grow with less attention 😌

So, Bogle launched the Vanguard 500 fund, which tracks the S&P 500 Index, the top 500 US companies in the stock market 🚀

Bogle continued to innovate and soon, ETFs were born! 👶

Through ETFs investors can invest in index mutual funds just like stocks! 🛍️

ETFs are basically the modern version of an index mutual fund 🧑‍💻

So, now you know how ETFs were invented! ✨

You can thank Jack Bogle and Vanguard 🤝