Note: This video is part seven of nine of an interview between Morningstar's Christine Benz and Jack Bogle, founder of Vanguard, at the 2018 Bogleheads conference. Watch the other segments here.
Christine Benz: Let's talk about exchange-traded funds. You've been critical of them in the past. You showed some data yesterday looking at turnover within ETFs. A lot of people use them for fast trading, and you've been critical of them mainly for that reason. It seems like maybe you're softening a little bit, that you think for a buy and hold investor, an ETF can work just fine, right?