THANKS, BOGLEHEADS, FROM JACK BOGLE

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jack bogle
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THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by jack bogle » Mon May 13, 2013 9:58 am

First, thanks for the scores of birthday greetings from you as I entered my 85th year on May 8. Never expected to hang around this long, but, with a new lease on life, why not!

Next, I so appreciated your 292(!) comments on the Frontline show. Yes, it had "a point of view" that offended a lot of souls, but airing these retirement issues is a necessary step to their solution. I was glad to play a significant role in the show, and was humbled (yes, me!) by the many wonderful comments from our crew, who said that my appearance made them proud to have their careers here.

I'm not sure that the staffs of JPMorgan and Prudential felt the same way about their bosses' appearances. Retirement plan expert Dan Solin summed up their embarrassing futility in his open letter to the Prudential fund leader, which can be found here: http://www.huffingtonpost.com/dan-solin ... 73437.html.

More than incidentally, congratulations to Taylor, Mel, Laura, and all of you other Bogleheads on the recent Fifth Anniversary of the Bogleheads wiki. In helping one another to invest simply and soundly, you are accomplishing a great mission, and have made the world of investing a better place for your fellow human beings.

Look forward to seeing many of you at BOGLEHEADS XII this October!

Best wishes to all. Always,

Jack

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Re: Thanks, Bogleheads, from Bogle

Post by VictoriaF » Mon May 13, 2013 10:04 am

Thank you, Jack, for taking time to respond to us. Looking forward to your wealth-enhancing, thought-provoking and rabble-rousing discussions and opinions at BH12,

Victoria
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Re: Thanks, Bogleheads, from Bogle

Post by Stan Dup » Mon May 13, 2013 10:13 am

I was one of those watching the Frontline episode and I found the example of what a 2% ER is costing me quite eye-opening.

I also always wondered why someone did not have an "all in one" fund that was very broady diversified and was re-balanced regularly. Turns out that the Vanguard Target Retirement Funds were what I was looking for all along.

I am in the process of transferring my tax-advantaged accounts to Vanguard.

Thanks for helping the little guy for all these years.
"The tyranny of compounding expenses is the eighth deadly sin." - George Sisti

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Re: Thanks, Bogleheads, from Bogle

Post by Howard Donnelly » Mon May 13, 2013 10:33 am

Thank you, Mr. Bogle. Great to hear from you!

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Re: Thanks, Bogleheads, from Bogle

Post by ofcmetz » Mon May 13, 2013 10:53 am

jack bogle wrote:First, thanks for the scores of birthday greetings from you as I entered my 85th year on May 8. Never expected to hang around this long, but, with a new lease on life, why not!

Jack
A belated Happy Birthday Sir! We expect you to hang around for a long time yet. Thank You for all you have done and continue to do!
Never underestimate the power of the force of low cost index funds.

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Re: Thanks, Bogleheads, from Mr. Bogle

Post by Jazzman » Mon May 13, 2013 12:53 pm

You are welcome! I hope to see you at BH 12.

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Re: Thanks, Bogleheads, from Mr. Bogle

Post by nisiprius » Mon May 13, 2013 12:55 pm

Thank you, and really enjoyed Clash of the Cultures: Investment vs. Speculation.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

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Re: Thanks, Bogleheads, from Mr. Bogle

Post by BruceM » Mon May 13, 2013 1:09 pm

Jack
Try this....Google something like "SEC FINRA fines and penalties Merrill Lynch" and see what comes up. Do the same, except insert American Express or LPL. You'll see page after page after page of press releases of the multi-million dollar fines and penalties assessed by the SEC and FINRA for mismanagement of accounts and mistreatment of the accountholders. And the incidence of this and the size of the fines seems to be increasing each year.

Now, do the same thing, but insert the name "Vanguard". What comes up? Zippo. Zilch. Nada. Nothing.

I'm not sure why account holders, clients and those who choose to invest their savings...cannot be treated by all mutual funds and brokerage services with fairness, respect and a sense of service to others. You have built a fine company that is a model for all others, but unfortunately, few seem to follow.

Best wishes

BruceM

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Re: Thanks, Bogleheads, from Mr. Bogle

Post by LadyGeek » Mon May 13, 2013 3:05 pm

Jack,

I want to thank you for everything, and I am looking forward to seeing you again at the Bogleheads 12 Convention. I'm one of the wiki editors, so your message means quite a lot to me.

The wiki's 5th annual report is here: Bogleheads Wiki: 2013 Annual Report

(This thread is now in the Investing - Theory, News & General forum.)
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Re: Thanks, Bogleheads, from Mr. Bogle

Post by sschullo » Mon May 13, 2013 5:39 pm

Had the good fortune of having lunch with the frontline team a few days after the show and told them how I appreciated that they gave you a lot of time.
See you in October,
Steve
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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by Beagler » Mon May 13, 2013 7:04 pm

Mr. Bogle, thank you so much for being an indefatigable champion for the common investor. You are a national treasure!
“The only place where success come before work is in the dictionary.” Abraham Lincoln. This post does not provide advice for specific individual situations and should not be construed as doing so.

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by gailcox » Mon May 13, 2013 8:14 pm

A belated birthday, Jack! On your special day I was without my computer and dangit if I couldn't log into the forum with my iphone to wish you a Happy Day! Frustrating!! I enjoyed the Frontline show immensely and was smiling from ear to ear when I saw how much air time they were giving you. See you in October at BH12!!

Gail

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by wingnutty » Mon May 13, 2013 8:30 pm

Jack,
Thanks for fighting for the little guy. Folks like you make the world a better place. I can't imagine how many lives you have touched as a result of your leadership, but wow, what a legacy :sharebeer . I know that you have touched my life, the life of my wife and our 4 children and for that I am eternally grateful to you. You are truly one of my heroes and I don't say that lightly. It is a shame more people do not act as selflessly as yourself, but the simple fact that some do bodes well for humanity.

God Bless!

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by michaelsieg » Mon May 13, 2013 8:34 pm

Thank you so much for posting Mr. Bogle - I am a huge fan and I am so excited to come to the BH forum for the first time and hopefully get a chance to hear you give a talk.
Happy belated birthday! - I wish you many years of good health to come.

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by dharrythomas » Mon May 13, 2013 8:36 pm

Jack,

Thank you for all you've done to educate small investors and all the money you've saved us and will continue to save us because of the Vanguard structure. I appreciate that what you have saved my family came out of the pocket of investment managers and that you could have made much more money by incorporating a standard mutual fund company.

You sir have contributed far more to mankind than you've taken.

Thanks again and God Bless.

Harry

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by Fallible » Mon May 13, 2013 8:42 pm

Thanks, Jack Bogle, for all you've done and continue to do for the small investor. You are our hero.
Bogleheads® wiki | Investing Advice Inspired by Jack Bogle

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by abuss368 » Mon May 13, 2013 8:45 pm

Happy Birthday Mr. Bogle!

Thank you for all you have done to make sure investors earn their fair share.

Best.
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by pennstater2005 » Mon May 13, 2013 9:01 pm

Thank you Jack for taking the time to post here. You are definitely a person that I look up to and respect. I always enjoy reading your books and watching you on television any chance I get. Here is to your continued health and longevity.

God Bless

Eric
“If you think nobody cares if you're alive, try missing a couple of car payments.” – Earl Wilson

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by crowd79 » Mon May 13, 2013 9:17 pm

Thank you very much Jack for your thought-provoking ideas and expertise. You have helped me learn a lot about investing for the long term in the past few years by sticking with primarily low cost index funds. I am proud to share the same birthday with you!

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by Trailbreaker1 » Mon May 13, 2013 9:28 pm

Jack is the man!! Happy belated Birthday to you. :sharebeer
My portfolio | Vanguard TSM index (40%), Vanguard TISM index (20%), Vanguard small cap value index (20%), Vanguard EM index (10%), Vanguard REIT index (10%).

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Re: Thanks, Bogleheads, from Bogle

Post by stratton » Mon May 13, 2013 10:27 pm

Stan Dup wrote:I was one of those watching the Frontline episode and I found the example of what a 2% ER is costing me quite eye-opening.
You can also view the higher expense as more risky because you need a lot more returns to make up for the fees.

The following portfolios have approximately the same expected returns.

A: 80/20 stocks/bonds, 2.25% ER.

B: 40/60 stocks/bonds, 0.25% ER.

I can tell you which one doesn't have to dig itself out of as deep a hole during a bear market to get back the amount it lost.

Paul
...and then Buffy staked Edward. The end.

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by Nathan Drake » Mon May 13, 2013 10:54 pm

In an industry rife with needless complexity that preys on the ignorance of individual investors, it's comforting to have a pioneer among us that has laid the foundation to maximize the returns of his clients rather than of his own interests through a simple approach that works. A rare thing in the financial services industry these days. And with Vanguard's history, I see no reason why the major inflows in capital will discontinue anytime soon.

Before his passing, my grandfather had the majority of his investments in high expense ratio funds with loaded fees from Smith Barney. Looking back at all the fees that had been taken from him throughout retirement disgusted me to no end.

I will not make the same mistake.

Thanks for everything Jack.

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by bayview » Mon May 13, 2013 11:04 pm

Do justice, love kindness, walk humbly.

Thanks, Mr. Bogle, for all that you have done to speak up for everyday folks.
The continuous execution of a sound strategy gives you the benefit of the strategy. That's what it's all about. --Rick Ferri

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by Sbashore » Tue May 14, 2013 9:29 am

Belated Happy Birthday Jack. I remember the first time I saw you on Wall Street Week so many years ago. I never forgot how memorable your discussion was. You spoke plainly and courageously! We all owe you a debt of gratitude for what you've accomplished.
Steve | Semper Fi

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by George-J » Tue May 14, 2013 11:21 am

Another sincere thank you Jack for your generous giving.

I am reminded of the Shakespeare line I read in high school over 60 years ago - something like -
"The quality of mercy is twice blest
It blesses him that gives and him that receives"

Similarly for "twice blest" to kindness, to giving, to education and to more.

Again thanks.

George

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by newtonc » Tue May 14, 2013 4:59 pm

Mr Bogle,
Thank you for your sage advice on the Frontline show! It was interesting to see the JPMorgan and Prudential representatives as well, two days later I signed up at work for TIAA-Cref 403(b) and can save two thirds of what I am paying Prudential and JPMorgan to "manage" my 401(k) and 457 accounts and this is just on one index fund!
Wishing you a belated Happy Birthday and hopefully you'll have many more!

Chris

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by EternalOptimist » Wed May 15, 2013 4:12 pm

Thank you Jack for the wealth of information, ideas and support you have provided. Happy Birthday and many more :beer
"When nothing goes right....go left"

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by Ed 2 » Wed May 15, 2013 4:30 pm

Thank you Jack! You saved me from many financial mistakes.
Ed
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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by pkcrafter » Wed May 15, 2013 4:45 pm

Thank you, Jack and happy birthday...

Here's tae us
Wha's like us...and I'm sure you know the rest!

Rabbie Burns,

Paul
When times are good, investors tend to forget about risk and focus on opportunity. When times are bad, investors tend to forget about opportunity and focus on risk.

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by Call_Me_Op » Wed May 15, 2013 4:52 pm

Jack,

Happy Birthday, and continue to stand on principle...even if (in some situations it seems that) you stand alone.
Best regards, -Op | | "In the middle of difficulty lies opportunity." Einstein

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by TimesAWastin » Wed May 15, 2013 4:55 pm

pkcrafter wrote:Here's tae us
Wha's like us...and I'm sure you know the rest!
Damn few! And they're all dead..
Stock goes up, stock goes down. Stock goes up, stock goes down. -- Homer J. Simpson (paraphrased)

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by khh » Wed May 15, 2013 5:02 pm

Belated happy birthday, Mr. Bogle! I was converted to the Boglehead way back in the '80s after seeing you on 'WSW with Lewis Rukeyser'. This was in early 1984, if memory serves. You've had a very positive impact on my life.

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by jim47 » Wed May 15, 2013 5:09 pm

Thanks Mr. Bogle ! When I watched the show I was proud to be a beginner Boglehead. I was amazed at how inarticulate the spokespeople for the other companies were.

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by tuckeverlasting » Wed May 15, 2013 8:07 pm

Dear Mr. Bogle,

The dedication to The Bogleheads' Guide to Investing says it best:
To John C. Bogle...While some mutual fund founders chose to make billions, he chose to make a difference.
Your choice has made all the difference for me, and countless others. I can't thank you enough.
It's Good To Be A Boglehead

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by ronney » Wed May 15, 2013 9:07 pm

Dear Mr Bogle,

What would be your message to my kid who is born on same date as you are?

John Clifton "Jack" Bogle (born May 8, 1929)
Aaryav (born May 8, 2013).

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by make_a_better_world » Wed May 15, 2013 9:19 pm

Dear Mr. Bogle,

I am a young physician just getting my career started. A year ago I could not have defined what is a mutual fund. Financial advisers (and insurance salesman) have approached me unsolicited on almost a monthly basis at work in person and through the university email. They take us to dinners and give very well organized presentations as to why we should invest in mutual funds and how they are here to help us avoid costly mistakes.

After reading several investment books (including some of yours) and reading the great contributions people make on this website, I feel much better armed against falling prey. I feel that in many areas, such as healthcare, great amounts of money are taken from many and given to few, and this threatens the well being of our country.

Thank you for fighting against that.

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by Greenie » Wed May 15, 2013 9:29 pm

Mr. Bogle,

Thank you for all your years of tireless service to the little guy. My wife and I now have a shot at a somewhat comfortable retirement.

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by westcoast » Wed May 15, 2013 9:36 pm

Thank you Mr. Bogle for all of your wisdom you have given us and I wish you many many more birthdays.

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by Random Musings » Wed May 15, 2013 10:15 pm

Mr Bogle,

Being relatively young in 1982, I remember reading the book "Random Walk Down Wall Street" which for some strange reason, made sense to me. At that time, Vanguard was still a young firm but I entrusted my money there and have been with them for 30 years. If I would have made the decision to go with higher cost firms, a good chunk of money would have been in someone else's pocket.

It is hard to believe that it has been about fourteen years since you retired. In my mind, you have not, since you are the face of Vanguard and a champion of individual investors.

RM
I figure the odds be fifty-fifty I just might have something to say. FZ

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Re: THANKS, BOGLEHEADS, FROM JACK BOGLE

Post by ProfessorX » Thu May 16, 2013 6:33 am

Thank you, Mr. Bogle. You are truly a Investing Saint because you helped so many "little guys (and ladies)" prudently invest for their future safely and soundly without being charged a 2% ER.

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