For decades, every fund manager would buy the individual stocks he or she believed would have the largest price increases in the future. In 1976, the late Jack Bogle of the Vanguard Group began selling the first index mutual fund available to individual investors. He took a unique new approach: He would buy all the stocks included in the S&P 500 without attempting to predict whether any individual stock might do better or worse than average. Warren Buffett is considered one of the greatest investors who has ever lived. His ability to predict which firms’ stocks are likely to rise in price helped make him one of the richest people in the world. Yet Buffett was quoted as saying that by introducing the index mutual fund, Bogle “did more for American investors . Than any individual I’ve known.” Is it likely that anyone investing mostly in index mutual funds will become as wealthy as Buffett? Why then did Buffett have such high praise for Bogle?