Jack Bogle, the founder of Vanguard who created the first index mutual fund for individual investors in 1975, died Wednesday at the age of 89, the company said.
Bogle started a revolution in the way people invest. He believed that investors should own a mix of bonds and stocks but shouldn't pay investment managers to pick them.
Despite Mr. Bogle’s age and lengthy career, he had chronic coronary failure and suffered at least seven heart attacks—the first at age 31. He endured a malfunctioning pacemaker before finally receiving a heart transplant in 1996.
“I didn’t think about [dying],” he told an interviewer in 2007. “I just got on with what needed to be done.”
Jack Bogle may very well have done more for the members of the middle class in this country than anyone since FDR and William Douglas. And most people won't realize it.
Originally posted by QuirtEvans: Jack Bogle may very well have done more for the members of the middle class in this country than anyone since FDR and William Douglas. And most people won't realize it.
A "stealth philanthropist" someone called him.
-------------------------------- If you think looting is bad wait until I tell you about civil forfeiture.
Posts: 33811 | Location: On the Hudson | Registered: 20 April 2005
He eschewed maximizing his personal wealth in favor of doing good for the rest of us.
Thanks, Jack.
Last night I learned that Vanguard was the name of Nelson's lead ship in the Battle of the Nile, and the Vanguard logo is an image of The Vanguard. Bogle was a keen on British naval history.
