RIP Mr. Bogle

a true visionary

https://www.msn.com/en-us/mone...ies-at-89/ar-BBSlBOP

John C. Bogle, the father of the retail index fund and an outspoken champion for low-cost investing that won him heroic status among individual investors, died Wednesday. He was 89.


Bogle founded the Vanguard Group, the mutual fund behemoth known for inexpensive mutual funds that track a market index rather than trying to beat it. Vanguard is now a giant of the asset-management industry that has shifted toward the passive style of investing and saved trillions of dollars for investors in the process.

“Jack Bogle made an impact on not only the entire investment industry, but more importantly, on the lives of countless individuals saving for their futures or their children’s futures,” Vanguard Chief Executive Tim Buckley said in a news release Wednesday afternoon that confirmed Bogle’s death. “He was a tremendously intelligent, driven and talented visionary whose ideas completely changed the way we invest. We are honored to continue his legacy of giving every investor ‘a fair shake.’”

Bogle formed Vanguard in 1974 and it began operations the next year. As of Sept. 30, 2018, it had about $5.3 trillion in global funds under management, according to the company.

When Bogle first launched a fund tracking the S&P 500 index (SPX) at a low cost to investors in 1976, he called it “the Vanguard experiment,” but it was widely derided as “Bogle’s folly.” Known then as the First Index Investment Trust, its initial underwriting collected just $11 million; it is now known as the Vanguard 500 Index Fund (VFINX) , and has $441 billion in assets, Vanguard noted Wednesday.

“Don’t look for the needle in the haystack. Just buy the haystack,” Bogle famously said of the passive-investing approach.


Beyond convincing the investment community that index funds were worthwhile, Bogle also pushed Vanguard to offer the funds directly to consumers, avoiding brokers. Vanguard said Wednesday that the approach has saved shareholders hundreds of millions of dollars in sales commissions. Vanguard says its average expense ratio is 0.11%.

Bogle remained at the helm of Vanguard until stepping down in 1996. He stayed in the public eye, however, making speeches and commenting on the markets. In 1999, Bogle created the Bogle Financial Markets Resource Center, which he ran as president until his death.

“Presumably you are accumulating money now and putting money away for the future. Do not, under any circumstances, stop doing that. That is the first rule. Don’t stop investing,” Bogle told MarketWatch in 2017, when asked for general rules for investing. “The second rule is, particularly for the younger people in the world: A good solid market decline is a blessing. You’ll be buying — if you invest each month — stocks at lower and lower prices. Don’t be antagonized by that; use that as an opportunity of a lifetime.”

Bogle is survived by his wife, whom he married in 1956, as well as six children, 12 grandchildren and six great-grandchildren, according to Vanguard. His death was first reported by Philly.com.

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quote:

Vanguard said Wednesday that the approach has saved shareholders hundreds of millions of dollars in sales commissions.

I would be surprised if that number were not in the billions.

I've been enjoying the fruits of my Vanguard Index fund for more than 10 years.

May you rest in peace good Sir!

He did good for so many of us investors. Thank you, John Bogle!

RIP sir.
his invention of the index fund has led to nothing but good for small retail investors. Competition has caused costs to go nothing but down. There are index funds available for $1 minimum initial investment and $1 subsequent investment and no cost maintenance fees with annual expenses as low as .03% expense ratios. That’s $3 per $10,000. There is zero reason for any American to not be an investor

Have read all his books many times over. I don't pretend to understand as completely as I should and will. He made such a difference in our lives. What a gentleman. R.I.P Jack.

A great man.

His book "Common Sense on Mutual Funds" got me started with investing.

There's even a forum devoted to his investment advice called Bogleheads. I hung out there 10 years ago.

So what's the story of him being forced out at Vanguard?

They are literally 15 minutes away from me as I type this.

I heard he was forced out by the very people he groomed to run the place.

JALLEN and Mr. Bogle are at this moment up in the heavens discussing investment strategy over a glass of strong whisky.

I do not know a ton about him. But have been a VG guy for a long time.
I think he did good for a lot of just regular, hardworking Americans.
He helped many make a nice retirement. And helped many avoid the shysters and sharks that feed upon and make a killing on those who did not know were to turn and lost most if not all to them.

May he RIP and thank you sir.

quote:

Originally posted by muzzleloader:
Have read all his books many times over. I don't pretend to understand as completely as I should and will.

I think that's the beauty of his system. You can learn and understand as much or little as you want. He showed us that no special knowledge or hours of research was needed for the average investor to make money in the stock market.

A gentleman and all around good soul. The world became dimmer today...

He made his part of the world better, and I follow his advice. RIP.

He certainly made a fight of it - he survived about 6 heart attacks and a heart transplant.

Since John Bogle was local to Philly, our local conservative talk radio guy did a piece on him and there's some good info about his life and a couple funny anecdotes like him owning only one car, a 7 year old Volvo.

Listen here:

quote:

Art Carey, writer and editor for the Philadelphia Inquirer, joins The Chris Stigall Show to discuss the passing of investor and philanthropist John C. Bogle. The Vanguard Group founder is credited with having created the first index mutual fund in 1975, subsequently making low-cost investing available to ordinary people. Vanguard is now the largest investment firm in the world.

John Bogle Recap

Fantastic website and forum for those of you who wish to educate yourselves on DIY low cost index investing:

https://www.bogleheads.org/

quote:

Originally posted by radioman:
JALLEN and Mr. Bogle are at this moment up in the heavens discussing investment strategy over a glass of strong whisky.

Arguing about value stocks over indexing probably!

Very sad that he passed.

I'm very grateful for how he changed investing for individuals, and that I learned about index investing and Vanguard in my early 20s.

Another Vanguard retirement account investor here. RIP and God bless Mr. Bogle and thank you for your thoughtfulness and efforts in bringing reason, value, and favorable returns to the small investor. May you be collecting the heavenly dividends of your contributions to humanity.