I read in a book recently by Bogle (The Little Book of Common Sense Investing Page 32) that someone who invested $15,000 in the S&P 500 Index in 1976 would have had $461,777 in 2006 (assuming all dividends/distributions were reinvested over that 30 yr period). Any validity to this statement. If so, why is there such angst by some pundits against investing in the 500 index particularly if in a low cost company like Vanguard or Fidelity.