There is a sense in which it was the Capital Asset Pricing Model that. [definitional]

    There is a sense in which it was the Capital Asset Pricing Model that. [definitional]
  

There is a sense in which it was the Capital Asset Pricing Model that "ought" to have inspired index funds (because it posits that the market portfolio is mean-variance efficient), but, as noted in chapter 3, in practice the inspiration tended to be the simpler intuition that "you can't systematically beat the market."

Donald MacKenzie, An Engine, Not a Camera, loc. 1632