The Evolution and Success of Index Strategies in ETFs
反驳了约翰·博格尔关于投资者使用基于ETF的指数策略的描述，解释了ETF为何及如何成为推动指数化投资增长的重要创新，对机构和个人投资者的战术与战略投资均有影响。
Taking issue with John Bogle’s description of how investors use index strategies that are based on exchange-traded funds (ETFs), I explain why and how ETFs are a significant innovation propelling further growth in indexing with respect to both tactical and strategic investment strategies for institutional and retail investors.