VALLEY FORGE, Pa. - Even after hanging up his hat as senior chairman of Vanguard Group, John C. Bogle is still preaching his indexing message to the fund industry and to banking companies, which he criticizes for their pursuit of an active investing style.

Mr. Bogle said banks generally have failed to participate in indexing, which of course has fueled Vanguard's rise to second place among fund companies in the United States.

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