Congratulations on your retirement, Mountebank, and welcome to this Awesome Retirement Class! We added you to the listMountebank wrote: ↑1 December 2015. Mountebank
What have you been up to for the last 3 years?
My goodness Mountebank! You're right, that was around August 31, 1976, when you first invested in the Vanguard First Index Investment Trust!Mountebank wrote: ↑Wed Nov 07, 2018 7:39 pmThank you Victoria F and Miriam 2 for welcoming me to this distinguished class. After 45 years of flying, including 24 Navy and 35 airline (overlapping during many years in the Naval Reserve) I'm now firmly on the ground at age 67. My claim to fame is investing shortly after its creation in the Vanguard Index Trust, 500 Portfolio, perhaps the late 1970's; I've been investing with Jack Bogle ever since. I've attended two Bogleheads conferences, look forward, to many more, and will attend my local chapter gathering soon. I am still financing one high school student and two college students so my financial considerations are different from many Bogleheads of my age.
Mountebank - Thank goodness you're now retired with your feet firmly on the ground - take a peek and see what you earned over that timeThis Day in Market History: Vanguard Launches First Index Fund for US Retail Investors
On this day (Aug. 31, 1976) 42 years ago, Vanguard launched the first retail index mutual fund.
Where The Market Was
The Dow Jones Industrial Average closed at 973.74 and the S&P 500 traded at 102.91. Today, the Dow is trading at 25,986.92 and the S&P 500 is trading at 2,901.13.
What Else Was Going On In The World?
In 1976, Steve Jobs and Steve Wozniak formed Apple, Inc. The hit Sylvester Stallone movie “Rocky” was released. The average cost of a new house was $43,400.
Birth Of The Retail Index Fund
Back in August 1976, Vanguard founder John Bogle launched the Vanguard First Index Investment Trust, the first U.S. index fund available to retail investors. Bogle created the passive fund to simply track the performance of the S&P 500 and minimize investor fees.
At the time of its launch, the fund’s $11.3 million in assets was well short of Bogle’s $150-million goal, but its popularity quickly skyrocketed. The fund’s assets grew at a compound annual rate of 53 percent during its first 20 years.
Today, the fund is called the Vanguard 500 Index Fund Investor Shares, and stock traders can access it via its ETF form, the Vanguard 500 Index Fund VOO ETF. . . .
https://www.benzinga.com/general/educat ... fund-for-u
Now let me show you something. I asked Michael Batnick to run a performance calculation of the Vanguard 500 fund since inception. We come up with a 10.86% annual return, and a cumulative total return of 6,091%! That number is f***ing bonkers. Not bad for a “dumb” product that holds all the losers along with the winners.
Check this out:
vanguard 500 since inception
https://thereformedbroker.com/2016/08/3 ... -turns-40/