Notices

R.I.P. Jack Bogle

 
Old 01-16-2019, 04:30 PM
  #1  
_
Thread Starter
 
AZuser's Avatar
 
Join Date: Nov 2006
Posts: 15,956
Liked 2,257 Times in 1,353 Posts
R.I.P. Jack Bogle

https://www.cnbc.com/2018/12/14/jack...at-age-89.html

Jack Bogle, founder of Vanguard Group and creator of the index fund, dies at age 89

Jack Bogle, who founded Vanguard Group, an investing juggernaut now with more than $5.1 trillion in assets under management, and created the world’s first index mutual fund, has died. He was 89.

Bogle, who preached buy and hold investing, was considered one of the world’s greatest investors. His index mutual fund enabled investors to achieve high returns but at lower costs than for actively managed funds.

He founded Vanguard, the world’s largest mutual fund organization, in 1975, and later served as chairman and CEO until 1996. Vanguard now manages assets from more than 20 million investors in about 170 countries.

Bogle, whose personal fortune was a valued at relatively modest $80 million, had a history of cardiac problems, suffering the first of a half-dozen heart attacks at age 31 and undergoing a transplant at 65.

He wrote 13 books on investing, most recently the 2018 “Stay the Course: The Story of Vanguard and the Index Revolution.” His devotees created an entire website based on his investing advice: Bogleheads.org.

“If a statue is ever erected to honor the person who has done the most for American investors, the hands down choice should be Jack Bogle,” billionaire investor Warren Buffett wrote in his annual letter in March 2017. “In his early years, Jack was frequently mocked by the investment-management industry. Today, however, he has the satisfaction of knowing that he helped millions of investors realize far better returns on their savings than they otherwise would have earned. He is a hero to them and to me. ”

Bogle’s primary philosophy was “common sense” investing. Indeed, two of his books used the phrase in their titles.

“Invest as efficiently as you can, using low-cost funds that can be bought and held for a lifetime. Don’t go chasing past performance, but buy broad stock index and bond index funds, with your bond percentage roughly equaling your age,” he told Reuters in 2012. “Most of all, you have to be disciplined and you have to save, even if you hate our current financial system. Because if you don’t save, then you’re guaranteed to end up with nothing. ”

. . .

[ SNIP ]

Last edited by AZuser; 01-16-2019 at 04:33 PM.
AZuser is offline  
Old 01-16-2019, 04:37 PM
  #2  
Go Giants
 
Whiskers's Avatar
 
Join Date: Aug 2004
Location: PA
Age: 47
Posts: 69,214
Liked 981 Times in 666 Posts
Whiskers is online now  
Old 01-16-2019, 04:43 PM
  #3  
Registered Member
 
doopstr's Avatar
 
Join Date: Jan 2001
Location: Jersey
Age: 47
Posts: 23,131
Liked 975 Times in 602 Posts
doopstr is online now  
Old 01-16-2019, 04:43 PM
  #4  
2006 RRP TL "The Comrade"
 
nist7's Avatar
 
Join Date: Jun 2010
Location: Honolulu
Age: 33
Posts: 3,197
Liked 561 Times in 385 Posts
Absolutely a legend and truly, IMO, one of the "good guys" in an industry rife with sleazebags. I saw a PBS documentary featuring Bogle back in 2013 when I was just starting my retirement investing and suffice it to say the Vanguard Group has gotten/is going to get a LOT of business from me.

The fact that he is "only" worth 80 million is insane. He could easily have been ten fold richer. I think he chose to truly make a difference for the common investor rather than chase the top dollar...and of course still ended up at a level of wealth that 99.9% people can only dream of achieving.


Last edited by nist7; 01-16-2019 at 04:55 PM.
nist7 is offline  
Old 01-16-2019, 04:44 PM
  #5  
Senior Moderator
 
oo7spy's Avatar
 
Join Date: Dec 2010
Location: Austin, TX
Posts: 24,846
Liked 4,365 Times in 3,139 Posts
6 heart attacks starting at 31?!

oo7spy is offline  
Old 01-16-2019, 04:44 PM
  #6  
Alright, alright, alright
 
Legend2TL's Avatar
 
Join Date: Nov 2004
Location: Maryland
Posts: 12,032
Liked 1,664 Times in 1,092 Posts

Legend2TL is online now  
Old 01-17-2019, 12:01 AM
  #7  
Registered Member
 
Rapture's Avatar
 
Join Date: Feb 2009
Posts: 4,016
Liked 197 Times in 128 Posts
Originally Posted by nist7 View Post
Absolutely a legend and truly, IMO, one of the "good guys" in an industry rife with sleazebags. I saw a PBS documentary featuring Bogle back in 2013 when I was just starting my retirement investing and suffice it to say the Vanguard Group has gotten/is going to get a LOT of business from me.

The fact that he is "only" worth 80 million is insane. He could easily have been ten fold richer. I think he chose to truly make a difference for the common investor rather than chase the top dollar...and of course still ended up at a level of wealth that 99.9% people can only dream of achieving.

All my non-retirement investment income is with Vanguard. People around me are telling me I need to put funds in a second account at a second firm, but I'm having a VERY difficult time doing that. Anyone who subscribes to the boglehead philosophy would understand why. He will definitely be missed and I would say he left the world a better place than when he entered
Rapture is offline  
Old 01-17-2019, 08:10 AM
  #8  
Senior Moderator
Regional Coordinator
(Mid-Atlantic)
iTrader: (6)
 
97BlackAckCL's Avatar
 
Join Date: Jan 2005
Location: ShitsBurgh
Age: 37
Posts: 88,714
Liked 3,020 Times in 2,134 Posts
97BlackAckCL is online now  
Old 01-17-2019, 09:02 AM
  #9  
Alright, alright, alright
 
Legend2TL's Avatar
 
Join Date: Nov 2004
Location: Maryland
Posts: 12,032
Liked 1,664 Times in 1,092 Posts
5 Pieces of Advice from John Bogle

5 Pieces of Advice from John Bogle

​​​​​​John C. Bogle, who died on Wednesday, is widely seen as having changed how ordinary people invest their money. His firm, the Vanguard Group of Investment Companies, which grew to have $4.9 trillion under management, was built on a belief that, over the long term, most investment managers cannot outperform the broad stock market averages.

“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,” Tim Buckley, Vanguard’s chief executive, said in a statement.

Here are some of Mr. Bogle’s investment tips:

1. Stay the course
“Wise investors won’t try to outsmart the market,” he says. “They’ll buy index funds for the long term, and they’ll diversify.”

Long-term investors must hold stocks even though the market is risky, because they are still likely to produce better returns than the alternatives, Mr. Bogle said in 2012.

Investors should weather any storms, he told The Wall Street Journal in 2016.

“If we’re going to have lower returns, well, the worst thing you can do is reach for more yield. You just have to save more.”

2. Beware the experts
Money managers missed all the warning signs before the 2008 financial crisis, Mr. Bogle noted:

“How could so many highly skilled, highly paid securities analysts and researchers have failed to question the toxic-filled, leveraged balance sheets of Citigroup and other leading banks and investment banks?”

In 2017, he waved younger investors away from financial advisers and gave his approval to robo-advisers.

“Unless you need a financial adviser to help you get started in that routine, you probably don't need a financial adviser at all,” he told CNBC.

3. Keep costs down
Vanguard’s fund shareholders own it collectively, so there is no parent company or private owner to siphon profit, allowing the firm to keep costs down.

“In investing, you get what you don’t pay for. Costs matter. So intelligent investors will use low-cost index funds to build a diversified portfolio of stocks and bonds, and they will stay the course. And they won’t be foolish enough to think that they can consistently outsmart the market.”

Mr. Bogle became a harsh critic in his later years of the mutual fund industry and the high fees charged to investors for stock-picking expertise.

4. Don’t get emotional
Invest in a diverse selection of stocks and bonds, trust in the arithmetic and stick to it — this was the essence of Mr. Bogle’s advice for Vanguard investors. “Impulse is your enemy,” was one of the mantras.

“Eliminate emotion from your investment program. Have rational expectations for future returns and avoid changing those expectations in response to the ephemeral noise coming from Wall Street.”

5. Own the entire stock market
Mr. Bogle was the leading proponent of structuring an investment portfolio to mirror the performance of a market yardstick, like the Standard & Poor’s 500 stock index.

“The S&P 500 is a great proxy,” Mr. Bogle told The Wall Street Journal last year, adding that he hadn’t bought an individual stock in about 25 years.

Mr. Bogle also told CNBC that the U.S. market was a safer bet than other markets. “U.S. companies are innovative and entrepreneurial,” he said.
Legend2TL is online now  
 
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
02CL-TypeS
Second Generation CL Discussion (2000-2003)
12
06-02-2008 03:07 PM
Dirty Type-S
Car Parts for Sale
0
04-05-2007 08:06 PM
Malayalee King
Car Parts for Sale
4
06-29-2006 07:11 PM
mastertl
Ramblings
4
07-25-2004 09:51 PM
Slimey
Second Generation CL Discussion (2000-2003)
2
06-01-2002 06:55 PM


Thread Tools
Search this Thread
Quick Reply: R.I.P. Jack Bogle


Contact Us - Advertising - Cookie Policy - Privacy Statement - Terms of Service

© 2019 MH Sub I, LLC dba Internet Brands

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.