Jack Bogle: Vanguard's $2.2 trillion man

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Howard Donnelly
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Jack Bogle: Vanguard's $2.2 trillion man

Post by Howard Donnelly »

Here's an excellent article about Jack Bogle:

http://finance.fortune.cnn.com/2012/12/ ... d=HP_River
Grt2bOutdoors
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Re: Jack Bogle: Vanguard's $2.2 trillion man

Post by Grt2bOutdoors »

I wonder if he is ever stopped in the street and thanked.
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NYBoglehead
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Re: Jack Bogle: Vanguard's $2.2 trillion man

Post by NYBoglehead »

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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abuss368
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Re: Jack Bogle: Vanguard's $2.2 trillion man

Post by abuss368 »

That was a nice article.

Thanks.
John C. Bogle: “Simplicity is the master key to financial success."
hlfo718
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Re: Jack Bogle: Vanguard's $2.2 trillion man

Post by hlfo718 »

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!
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norookie
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Re: Jack Bogle: Vanguard's $2.2 trillion man

Post by norookie »

:thumbsup 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
Fallible
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Re: Jack Bogle: Vanguard's $2.2 trillion man

Post by Fallible »

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'."
"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
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tc101
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Re: Jack Bogle: Vanguard's $2.2 trillion man

Post by tc101 »

None of us are smarter than the markets.
Do you think that is true, or would it be more accurate to say:
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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Taylor Larimore
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Re: Jack Bogle: Vanguard's $2.2 trillion man

Post by Taylor Larimore »

Howard:

Thank you for this Fortune article about our amazing mentor, Jack Bogle.

From the article:
"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."
Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
Dagwood
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Re: Jack Bogle: Vanguard's $2.2 trillion man

Post by Dagwood »

Grt2bOutdoors wrote:I wonder if he is ever stopped in the street and thanked.
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.
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Taylor Larimore
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Re: Jack Bogle: Keeping costs low for investors.

Post by Taylor Larimore »

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
"Simplicity is the master key to financial success." -- Jack Bogle
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Re: Jack Bogle: Keeping costs low for investors.

Post by abuss368 »

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
Hi Taylor,

That is one of my favorite Jack Bogle stories!

Best.
John C. Bogle: “Simplicity is the master key to financial success."
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Jerilynn
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Re: Jack Bogle: Keeping costs low for investors.

Post by Jerilynn »

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
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?
Cordially, Jeri . . . 100% all natural asset allocation. (no supernatural methods used)
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Taylor Larimore
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Re: Jack Bogle: Vanguard's $2.2 trillion man

Post by Taylor Larimore »

Jerilynn:
If I am ever able to un-retire, I think I would like to work at the Bogle Financial Markets Research Center.
So would thousand's of others. :wink:

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
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jidina80
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Re: Jack Bogle: Vanguard's $2.2 trillion man

Post by jidina80 »

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
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Re: Jack Bogle: Vanguard's $2.2 trillion man

Post by Grt2bOutdoors »

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
No wonder Larry Fink is upset! :greedy
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ScottW
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Re: Jack Bogle: Vanguard's $2.2 trillion man

Post by ScottW »

I like the irony of the advertising headline inserted halfway down the article: "15 top stock picks from star investors"
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22twain
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Re: Jack Bogle: Keeping costs low for investors.

Post by 22twain »

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."
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. :wink:
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