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Bogle: Don't Try to Time Factor Investing

The Vanguard founder sees a place for some factor funds but thinks trying to trade between factors is a losing proposition.

Note: This video is part eight 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: That leads nicely to my next question, which is about a subset of exchange-traded funds, the strategic beta funds. And they're not necessarily ETFs. In fact, yesterday you said that in some ways the Vanguard growth and value indexes were the first strategic beta or smart beta products. What's your take on those products? Useful, not so useful?