Practical Applications of Occam’s Razor Redux

Abstract

In 1991, when legendary Vanguard Group Founder Jack Bogle introduced his “simple,” three-factor approach to predicting equity returns— Investing in the 1990s —he wrote, “Its accuracy remains only to be demonstrated, and time will tell.”

Twenty-five years later, Bogle and co-author Michael Nolan, Jr., Senior Investment Analyst at Vanguard’s Bogle Financial Markets Research Center , revisited the original research.

Bogle’s revisit—and his outlook for the next decade—has drawn coverage from The Wall Street Journal , Business Insider , and other business publications, with The Wall Street Journal’s Jason Zweig advising readers to emulate Bogle’s approach and long-term view.