Dismissing the $750 billion decline in stock valuation last Tuesday as mere speculation rather than a reduction in intrinsic value, Vanguard founder John Bogle urged investors to “stay the course,” The New York Sun reports.

“The stock market is a system gone awry. It’s a foolish, counterproductive system based on expectations [that] causes investors to focus on transitory and volatile investment expectations rather than on what is really important: the gradual accumulation of the returns earned by corporate business,” Bogle said.

Instead, investors should buy into index funds so that they have a diversified exposure to the entire market, he said.

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