Bloomberg Businessweek on index funds

The index fund is one of a handful of unambiguously beneficial financial innovations.  Before it caught on, investors routinely paid sky-high fees to active stockpickers who often delivered subpar returns. The near-universal popularity of index funds puts them up there with Social Security, Stevie Wonder, and streaming TV.

~ Bloomberg Businessweek, "The Great Index Fund Takeover," January 13, 2020