Bogle also was skeptical about various investments.
On target-date funds: "They are a little too clever a solution when it's perfectly easy for investors to rebalance themselves."
On absolute return funds: "Under no circumstances. No one can give you an absolute return. It implies an absolute, positive return. They are greatly oversold."
On 130/30 funds: "Too much gimmickry."
On ETFs: "An ETF may do a little better than a mutual fund if you buy a large amount at one time ... but they are mutual funds that you can trade all day long in real time. The turnover is staggering ... ETF investors do badly relative to mutual fund investors."
John Bogle, in short, has refreshingly simple ideas about investing. Why does the industry make it so complicated? To market new products by selling innovation to investors. To convince people there's something better than the tried and true. But there isn't.
At least according to Bogle. Who do you want to believe?