Jack Bogle: The apostle of index investing

John C. Bogle; credit NY Times

Jack Bogle, founder of Vanguard Funds and a life-long apostle of index investing, died on 16 January 2019. Vanguard CEO Tim Buckley summarized his career in these terms: “Jack Bogle made an impact on not only the entire investment industry, but more importantly, on the lives of countless individuals saving for their futures or their children’s futures.”

J.C. de Swaan, lecturer at Princeton University and partner at Cornwall Capital, recalls that for the past several years Bogle has frequently visited de Swaan’s class of first-year students at Princeton. Bogle’s deep voice and high

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How bad is the problem of data misuse in finance research papers?

[Editor’s note: This guest post is by Zachary David, an analyst who advises institutional clients on trading practices (website: http://zacharydavid.com). The article below is adapted from this blog.]

Spurious results are the norm

Having done a healthy share of paper replications over the past decade, and having been consistently disappointed when the models or techniques broke down on data shortly after (or even before) the authors’ sample periods, I would say that data misuse is a gigantic problem — spurious results are the norm. But also over those years, the granularity of market data available to researchers has become finer,

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