[hartator]

Author complains about high barrier of entry to create a new index fund, but all solutions he list are just even more barriers of entry.

The common sense of not putting new laws until clear evil has been observed should be applied here.

[yborg]

>the common sense of waiting for a massive crisis before doing something by which time it is too late for millions of investors who lose everything

That is the conventional approach, I think Mr. Bogle is suggesting that we act to prevent such issues ahead of time for a change.

And the main barrier to entry he refers to is essentially the size of the established players. They have economies of scale that a new entrant would be hard-pressed to match. And the author is the man who essentially invented the index fund, and whose company, Vanguard, currently is the market leader in these products and has the most to gain from maintaining the status quo.