MIAMI-John Bogle, founder and former chief executive of Vanguard, recalled his first speech before The National Investment Company Service Association's Annual Conference & Expo in 1977, when he predicted a shareholder revolution. While that hasn't happened, he told this year's conference last Tuesday, he believes a shift in mindset is, nonetheless, underway.

"I have a dream," Bogle said. That dream includes an industry where mutual fund investing is designed "for the shareholder, by the shareholder."

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