Jack Bogle: Vanguard's $2.2 trillion man
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Jack Bogle: Vanguard's $2.2 trillion man
Here's an excellent article about Jack Bogle:
http://finance.fortune.cnn.com/2012/12/ ... d=HP_River
http://finance.fortune.cnn.com/2012/12/ ... d=HP_River
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Re: Jack Bogle: Vanguard's $2.2 trillion man
I wonder if he is ever stopped in the street and thanked.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
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Re: Jack Bogle: Vanguard's $2.2 trillion man
It is nice to see that some people recognize there is more to life than the accumulation of wealth and fame. Jack Bogle is a true believer in his product and doesn't mince words about how others have lined their pockets through the diminished returns of those that invest with them.
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Re: Jack Bogle: Vanguard's $2.2 trillion man
That was a nice article.
Thanks.
Thanks.
John C. Bogle: “Simplicity is the master key to financial success."
Re: Jack Bogle: Vanguard's $2.2 trillion man
I wish I understood Jack's message twenty years ago. I would have accumulated more wealth and saved myself the countless hours of researching the next stock and mutual fund. I am passing on Jack's knowledge to my niece and nephew so they don't do stupid things I did.
Thank you Jack!
Thank you Jack!
Re: Jack Bogle: Vanguard's $2.2 trillion man
hailing a cab, to the train station to catch a train. That says a lot to me .
" Wealth usually leads to excess " Cicero 55 b.c
Re: Jack Bogle: Vanguard's $2.2 trillion man
Not much new in this article, unless you've never heard of Spanish Octopus a la Plancha, and I wouldn't describe Jack Bogle as "cantankerous" (dictionary def.: "bad-tempered, argumentative, and uncooperative"). But I liked the link to Jack's remembering good advice he once received:
"I was a runner for a little brokerage firm here in Philadelphia, delivering securities from one little brokerage firm to another. One of the other runners looked at me and he said, "Bogle, I'm gonna tell you everything you need to know about the investment business." And I said, "What's that, Ray?" And he said, "Nobody knows nuthin'." And it turns out, Ray was right. People say there are great performers out there, but it's a lot of randomness. None of us are smarter than the markets."
Always something to remember: "Nobody knows nuthin'."
"I was a runner for a little brokerage firm here in Philadelphia, delivering securities from one little brokerage firm to another. One of the other runners looked at me and he said, "Bogle, I'm gonna tell you everything you need to know about the investment business." And I said, "What's that, Ray?" And he said, "Nobody knows nuthin'." And it turns out, Ray was right. People say there are great performers out there, but it's a lot of randomness. None of us are smarter than the markets."
Always something to remember: "Nobody knows nuthin'."
"Yes, investing is simple. But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." ~Jack Bogle
Re: Jack Bogle: Vanguard's $2.2 trillion man
Do you think that is true, or would it be more accurate to say:None of us are smarter than the markets.
Very very few people can beat the market consistently, and there is no way for an investor to know who these people are.
. |
The most important thing you should know about me is that I am not an expert.
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Re: Jack Bogle: Vanguard's $2.2 trillion man
Howard:
Thank you for this Fortune article about our amazing mentor, Jack Bogle.
From the article:
Taylor
Thank you for this Fortune article about our amazing mentor, Jack Bogle.
From the article:
Best wishes."There are many steps to managing your money wisely. A good way to start: a visit with the father of indexing, Vanguard's Jack Bogle. -- He's all about keeping things simple."
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
Re: Jack Bogle: Vanguard's $2.2 trillion man
I bumped into him in a public elevator about 9 years ago. I looked at him and said, "thank you." He just smiled and said thanks.Grt2bOutdoors wrote:I wonder if he is ever stopped in the street and thanked.
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Re: Jack Bogle: Keeping costs low for investors.
During Bogleheads 1 at our home in March, 2000, I asked Jack if this story about him at the Plaza Hotel was true?
The story:
Mr. Bogle was pre-registered at the Plaza Hotel in New York City by the Vanguard Company. When Jack arrived, the clerk told Mr. B. that his suite was ready. Mr. Bogle said to the clerk, "Please give me the cheapest room."
While the clerk was checking, the man waiting behind Mr. Bogle asked, "Are you John Bogle, the Chairman of Vanguard?" Jack replied, "Yes, I am." The man said, "I am glad that we have our mutual funds with you."
Mr. Bogle acknowledged that the story is true.
What a man!
Best wishes.
Taylor
The story:
Mr. Bogle was pre-registered at the Plaza Hotel in New York City by the Vanguard Company. When Jack arrived, the clerk told Mr. B. that his suite was ready. Mr. Bogle said to the clerk, "Please give me the cheapest room."
While the clerk was checking, the man waiting behind Mr. Bogle asked, "Are you John Bogle, the Chairman of Vanguard?" Jack replied, "Yes, I am." The man said, "I am glad that we have our mutual funds with you."
Mr. Bogle acknowledged that the story is true.
What a man!
Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
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Re: Jack Bogle: Keeping costs low for investors.
Hi Taylor,Taylor Larimore wrote:During Bogleheads 1 at our home in March, 2000, I asked Jack if this story about him at the Plaza Hotel was true?
The story:
Mr. Bogle was pre-registered at the Plaza Hotel in New York City by the Vanguard Company. When Jack arrived, the clerk told Mr. B. that his suite was ready. Mr. Bogle said to the clerk, "Please give me the cheapest room."
While the clerk was checking, the man waiting behind Mr. Bogle asked, "Are you John Bogle, the Chairman of Vanguard?" Jack replied, "Yes, I am." The man said, "I am glad that we have our mutual funds with you."
Mr. Bogle acknowledged that the story is true.
What a man!
Best wishes.
Taylor
That is one of my favorite Jack Bogle stories!
Best.
John C. Bogle: “Simplicity is the master key to financial success."
Re: Jack Bogle: Keeping costs low for investors.
If I am ever able to un-retire, I think I would like to work at the Bogle Financial Markets Research Center. I wonder if they are hiring?Taylor Larimore wrote:During Bogleheads 1 at our home in March, 2000, I asked Jack if this story about him at the Plaza Hotel was true?
The story:
Mr. Bogle was pre-registered at the Plaza Hotel in New York City by the Vanguard Company. When Jack arrived, the clerk told Mr. B. that his suite was ready. Mr. Bogle said to the clerk, "Please give me the cheapest room."
While the clerk was checking, the man waiting behind Mr. Bogle asked, "Are you John Bogle, the Chairman of Vanguard?" Jack replied, "Yes, I am." The man said, "I am glad that we have our mutual funds with you."
Taylor
Cordially, Jeri . . . 100% all natural asset allocation. (no supernatural methods used)
- Taylor Larimore
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Re: Jack Bogle: Vanguard's $2.2 trillion man
Jerilynn:
Best wishes.
Taylor
So would thousand's of others.If I am ever able to un-retire, I think I would like to work at the Bogle Financial Markets Research Center.
Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
Re: Jack Bogle: Vanguard's $2.2 trillion man
Nice article. Mr. Bogle has cost the mutual fund industry BILLIONS in fees they never saw because of Vanguard. If Vanguard's expense ratios are an average half-percent less than its competitors*, Vanguard customers kept approximately $11 billion more of their money on that $2.2 trillion in one year!
* Rough estimate gleaned from ICI data showing average equity fund ER of .79% and average bond fund of .62% ER in 2011, versus Vanguard's aggregate .20%. http://www.icifactbook.org/fb_ch5.html
* Rough estimate gleaned from ICI data showing average equity fund ER of .79% and average bond fund of .62% ER in 2011, versus Vanguard's aggregate .20%. http://www.icifactbook.org/fb_ch5.html
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Re: Jack Bogle: Vanguard's $2.2 trillion man
No wonder Larry Fink is upset!jidina80 wrote:Nice article. Mr. Bogle has cost the mutual fund industry BILLIONS in fees they never saw because of Vanguard. If Vanguard's expense ratios are an average half-percent less than its competitors*, Vanguard customers kept approximately $11 billion more of their money on that $2.2 trillion in one year!
* Rough estimate gleaned from ICI data showing average equity fund ER of .79% and average bond fund of .62% ER in 2011, versus Vanguard's aggregate .20%. http://www.icifactbook.org/fb_ch5.html
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Re: Jack Bogle: Vanguard's $2.2 trillion man
I like the irony of the advertising headline inserted halfway down the article: "15 top stock picks from star investors"
Re: Jack Bogle: Keeping costs low for investors.
Of course, the cheapest room at the Plaza is probably several cuts above the rooms my wife and I usually stay in when we travel.Taylor Larimore wrote:Mr. Bogle was pre-registered at the Plaza Hotel in New York City by the Vanguard Company. When Jack arrived, the clerk told Mr. B. that his suite was ready. Mr. Bogle said to the clerk, "Please give me the cheapest room."
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