A few weeks ago I saw an article in the WSJ about a documentary that DFA had commissioned and put on YouTube [1]. At around 30 or 35 minutes in, it says that Wells Fargo created the first index fund for the pension at Samsonite in 1971. They wanted to offer it in the retail market but couldn’t because of Glass-Steagall. So Wells Fargo gave it to Bogle and Vanguard, for free.
It’s a little different viewpoint than presented in this article :)
A few weeks ago I saw an article in the WSJ about a documentary that DFA had commissioned and put on YouTube [1]. At around 30 or 35 minutes in, it says that Wells Fargo created the first index fund for the pension at Samsonite in 1971. They wanted to offer it in the retail market but couldn’t because of Glass-Steagall. So Wells Fargo gave it to Bogle and Vanguard, for free.
It’s a little different viewpoint than presented in this article :)
[1] https://m.youtube.com/watch?v=T98825bzcKw