John Bogle, the 87-year-old founder of investment giant Vanguard Group Inc., likes to recall the early advice he received about the stock market: “Nobody knows nothing.” The point was that predicting market moves is mostly fruitless. That advice was proved right again Wednesday when the Dow Jones industrial average closed above 20,000 for the first time and broader indexes also set record highs. The widely followed Dow average of 30 blue chip stocks hit that big, historic number to extend a months-long rally on Wall Street that few saw coming because it looked so implausible a year ago when stock prices were plunging.
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