Tributes to Jack Bogle

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
FBN2014
Posts: 692
Joined: Sat Mar 08, 2014 3:07 pm

Re: Tributes to Jack Bogle

Post by FBN2014 » Wed Feb 13, 2019 10:20 am

Perhaps he could still win it even if it is posthumously.
"October is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May March, June, December, August and February." - M. Twain

User avatar
Sheepdog
Posts: 5425
Joined: Tue Feb 27, 2007 3:05 pm
Location: Indiana, retired 1998 at age 65

Re: Tributes to Jack Bogle

Post by Sheepdog » Sat Feb 16, 2019 4:21 pm

Money Magazine, March 2019 issue has a very nice article on page 70 titled "THE PATRON SAINT OF INDEX FUNDS....REMEMBERING JACK BOGLE", by Pat Regnier
John C. "Jack Bogle, who founded the Vanguard Group and revolutionized the way millions of Americans save and invest, died on Jan. 16.
Bogle's best-known legacy is the index fund, a low-cost, diversified way to hold stocks or bonds, In an unpredictable market, few investment managers are able to consistently leave their customers, rather than themselves, better off.
Compared with traditionally managed funds, index mutual funds as a group save their owners billions per year in the fees deducted from returns.
By the 1990s investors started to notice. For a time, simply by tracking a rallying bull market,the 500 fund was beating the majority of fund managers by such wide margins that Bogle had to warn investors not to expect the fund to win every year.
There is much more with good quotes from Mr. Bogle and some nice photographs.

Rest in peace, Mr. Bogle.
Just because it isn't your fault doesn't mean it isn't your responsibility....Josh Reid Jones

User avatar
darkhorse346
Posts: 210
Joined: Sat Jan 10, 2015 5:53 am

Re: Tributes to Jack Bogle

Post by darkhorse346 » Sat Feb 16, 2019 6:31 pm

You stayed the course and had the courage to press on, regardless.

We are all better investors, and more importantly, better people because of you.

Well done, Mr. Bogle. Well done!

User avatar
Barry Barnitz
Wiki Admin
Posts: 3176
Joined: Mon Feb 19, 2007 10:42 pm
Contact:

Re: Tributes to Jack Bogle

Post by Barry Barnitz » Wed Feb 20, 2019 2:44 pm

Dan Otter of 403bWise recollects his meetings with John Bogle in Meeting John Bogle.

regards,
Additional administrative tasks: Financial Page affiliate blog; finiki the Canadian wiki; The Bogle Center for Financial Literacy site; Wiki Bogleheads® España.

investnoob
Posts: 284
Joined: Fri Oct 16, 2009 7:57 am
Location: Ottawa
Contact:

Re: Tributes to Jack Bogle

Post by investnoob » Sun Feb 24, 2019 2:28 pm

Mr. Bogle really made investing as easy as possible. Sad to see that he has passed away. Rest in peace.

User avatar
oldzey
Posts: 1467
Joined: Sun Apr 13, 2014 8:38 pm
Location: Land of Lincoln

Re: Tributes to Jack Bogle

Post by oldzey » Sun Mar 03, 2019 6:55 pm

Adding this compilation of tributes:

Tributes to Jack Bogle (1929-2019) by Ted Aronson, Larry Siegel, Robert Huebscher, 1/30/19

https://www.advisorperspectives.com/art ... -1929-2019
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman

BlackHat
Posts: 91
Joined: Tue Feb 14, 2017 1:47 pm

Re: Tributes to Jack Bogle

Post by BlackHat » Thu Mar 14, 2019 1:08 pm

Rest in peace Jack. You've made my life, my family's life and countless others so much better.
“Life is really simple, but we insist on making it complicated.” -- Confucius

User avatar
oldzey
Posts: 1467
Joined: Sun Apr 13, 2014 8:38 pm
Location: Land of Lincoln

Re: Tributes to Jack Bogle

Post by oldzey » Wed Mar 20, 2019 8:09 am

Adding this article to the tributes:
Taylor Larimore wrote:
Tue Mar 19, 2019 3:25 pm
Bogleheads:

This is a very informative article about Jack Bogle, Vanguard, and indexing by Lewis Braham, author of "The House that Bogle Built":

How Jack Bogle Changed Investing.

Best wishes.
Taylor
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman

Strayshot
Posts: 607
Joined: Thu Mar 05, 2015 8:04 am
Location: New Mexico

Re: Tributes to Jack Bogle

Post by Strayshot » Wed Mar 20, 2019 8:34 am

Kiplingers is a mostly trash magazine, but they had a 2 page spread in the April edition about Jack and his contributions. There was a lot of focus and meaningless metrics on Vanguard the current company in the article that I think could have been omitted to allow more focus on Jack and his overall mission, but the key takeaways were there.

The best irony is that on the immediately following page in the magazine was the “Practical Investing” column, where Kathy Kristoff has been documenting her stockpicking journey since 2011. Kathy is closing down the column to pursue other things, but her “portfolio” of individual stocks is significantly behind the broad market over that 8 year timeframe.

Maybe this placement was strategy or maybe dumb luck on the part of Kiplingers editors, but either way it works as a perfect endorsement and Jack would be proud.

rhodnius
Posts: 71
Joined: Sat May 30, 2015 5:07 pm

In honor of my personal hero John C. Bogle

Post by rhodnius » Tue Jan 14, 2020 8:03 pm

[Thread merged into here, see below. --admin LadyGeek]

Thank you Jack...

Image

Triple digit golfer
Posts: 3928
Joined: Mon May 18, 2009 5:57 pm

Re: In honor of my personal hero John C. Bogle

Post by Triple digit golfer » Tue Jan 14, 2020 8:09 pm

Fantastic! You better be driving a ten year old Camry! :D

retiredjg
Posts: 39038
Joined: Thu Jan 10, 2008 12:56 pm

Re: In honor of my personal hero John C. Bogle

Post by retiredjg » Tue Jan 14, 2020 8:11 pm

That's one nice looking license plate. :happy

User avatar
TheTimeLord
Posts: 6464
Joined: Fri Jul 26, 2013 2:05 pm

Re: In honor of my personal hero John C. Bogle

Post by TheTimeLord » Tue Jan 14, 2020 8:24 pm

Bogle 1920 x 1080, I don't get it.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]

Triple digit golfer
Posts: 3928
Joined: Mon May 18, 2009 5:57 pm

Re: In honor of my personal hero John C. Bogle

Post by Triple digit golfer » Tue Jan 14, 2020 8:27 pm

TheTimeLord wrote:
Tue Jan 14, 2020 8:24 pm
Bogle 1920 x 1080, I don't get it.
***Dad joke alert!***

User avatar
oldcomputerguy
Moderator
Posts: 6874
Joined: Sun Nov 22, 2015 6:50 am
Location: In the middle of five acres of woods in East Tennessee

Re: In honor of my personal hero John C. Bogle

Post by oldcomputerguy » Tue Jan 14, 2020 8:42 pm

TheTimeLord wrote:
Tue Jan 14, 2020 8:24 pm
Bogle 1920 x 1080, I don't get it.
Unless you're 720p, in which case it would be Bogle 1280x720.
:twisted: :beer
"I’ve come around to this: If you’re dumb, surround yourself with smart people; and if you’re smart, surround yourself with smart people who disagree with you." (Aaron Sorkin)

User avatar
arcticpineapplecorp.
Posts: 4647
Joined: Tue Mar 06, 2012 9:22 pm

Re: In honor of my personal hero John C. Bogle

Post by arcticpineapplecorp. » Tue Jan 14, 2020 8:50 pm

while I love the idea of your license plate, in my state of PA where Bogle proudly hailed, vanity plates cost extra. I think that's distinctly un-Bogle like.

but your plate gave me a smile, nonetheless.

keep spreading the word.
"May you live as long as you want and never want as long as you live" -- Irish Blessing | "Invest we must" -- Jack Bogle

columbia
Posts: 2162
Joined: Tue Aug 27, 2013 5:30 am

Re: In honor of my personal hero John C. Bogle

Post by columbia » Tue Jan 14, 2020 8:54 pm

:sharebeer

User avatar
whodidntante
Posts: 7142
Joined: Thu Jan 21, 2016 11:11 pm
Location: outside the echo chamber

Re: In honor of my personal hero John C. Bogle

Post by whodidntante » Tue Jan 14, 2020 9:01 pm

Triple digit golfer wrote:
Tue Jan 14, 2020 8:09 pm
Fantastic! You better be driving a ten year old Camry! :D
Or a Tesla.

rhodnius
Posts: 71
Joined: Sat May 30, 2015 5:07 pm

Re: In honor of my personal hero John C. Bogle

Post by rhodnius » Tue Jan 14, 2020 9:07 pm

Triple digit golfer wrote:
Tue Jan 14, 2020 8:09 pm
Fantastic! You better be driving a ten year old Camry! :D
Not a 10yo Camry but a 14yo Corolla 😁

Triple digit golfer
Posts: 3928
Joined: Mon May 18, 2009 5:57 pm

Re: In honor of my personal hero John C. Bogle

Post by Triple digit golfer » Tue Jan 14, 2020 9:07 pm

rhodnius wrote:
Tue Jan 14, 2020 9:07 pm
Triple digit golfer wrote:
Tue Jan 14, 2020 8:09 pm
Fantastic! You better be driving a ten year old Camry! :D
Not a 10yo Camry but a 14yo Corolla 😁
:sharebeer

rhodnius
Posts: 71
Joined: Sat May 30, 2015 5:07 pm

Re: In honor of my personal hero John C. Bogle

Post by rhodnius » Tue Jan 14, 2020 9:20 pm

arcticpineapplecorp. wrote:
Tue Jan 14, 2020 8:50 pm
while I love the idea of your license plate, in my state of PA where Bogle proudly hailed, vanity plates cost extra. I think that's distinctly un-Bogle like.

but your plate gave me a smile, nonetheless.

keep spreading the word.
Hihi. Thanks. I hope the 14-year-old Corolla makes up for it 😅

columbia
Posts: 2162
Joined: Tue Aug 27, 2013 5:30 am

Re: In honor of my personal hero John C. Bogle

Post by columbia » Tue Jan 14, 2020 9:22 pm

I drive a 10 year old Corolla.

rhodnius
Posts: 71
Joined: Sat May 30, 2015 5:07 pm

Re: In honor of my personal hero John C. Bogle

Post by rhodnius » Tue Jan 14, 2020 9:25 pm

columbia wrote:
Tue Jan 14, 2020 9:22 pm
I drive a 10 year old Corolla.
:sharebeer

Royal Blue
Posts: 63
Joined: Wed Dec 18, 2019 4:07 pm

Re: In honor of my personal hero John C. Bogle

Post by Royal Blue » Tue Jan 14, 2020 10:00 pm

I thought Jack drove a Volvo wagon if I'm not mistaken.

larryswedroe
Posts: 16022
Joined: Thu Feb 22, 2007 8:28 am
Location: St Louis MO

Re: In honor of my personal hero John C. Bogle

Post by larryswedroe » Tue Jan 14, 2020 10:36 pm

Thought you would all enjoy the following
Vanguard Founder, John C. (Jack) Bogle, 1929-2019

Investing Public Speaks Out in FOJ Survey

Commenters on Jack Bogle

Alan Blinder, Gordon S. Rentschler Memorial Professor

of Economics and Public Affairs

Princeton University blinder@Princeton.EDU

“Bogle’s relentless voice, sharp pen, and indefatigable energy have been prodding the mutual fund industry in particular, and the financial industry more generally, to embrace higher business, fiduciary and ethical standards for decades.” May, 2010, Forward to, Don’t Count on It

Phyllis Borzi, Former Assistant Secretary, Department of Labor 2009-2017 borziphy@gmail.com

Jack’s vision and leadership created a new investor class. He never ceased to speak out forcefully when market behavior strayed from putting investors’ interest first. Jack will always be

our North Star!

Tamar Frankel Professor of Law Emerita Boston University School of Law tfrankel@bu.edu

“People affect family, friends and business associates through life. Some people affect society as a whole. Jack Bogle was one such person. He created an investment management company that benefited investors. Similar organizations have existed but Jack Bogle offered a unique structure, in which the shareholders owned the company and received quality service at lower cost.

For the Vanguard “crew members”, this meant a great deal more. Jack Bogle cared for them. Visiting Vanguard’s dining room one felt the “family relationship” atmosphere. In a meeting, more than 40 years ago, I was overwhelmed when he suddenly approached me (an unknown Israeli woman), noting my book on fiduciary law. Jack Bogle was a unique person, who combined principles with humanity, and honesty with financial stewardship. He continues to lead us today.”

Leo E. Strine, Jr., Austin Wakeman Scott lecturer on Law, Fall 2019 Harvard Law School leo.strine@outlook.com

“I was lucky to get to know Jack because I have been writing about his key topic for the entire century and especially about the important role index funds could play in making our corporate governance system more rational, if they used their voice responsibly.”

On February 28, 2014, Leo E. Strine, Jr., became the 8th Chief Justice of the Delaware Supreme Court. Previously, Chief Justice Strine had served on the Delaware Court of Chancery as Chancellor since June 22, 2011, and as a Vice Chancellor since November 9, 1998. While serving on the Court of Chancery, Chief Justice Strine wrote numerous opinions addressing issues of corporate law and authored many articles about the effect of corporations in society.

Richard Sylla, Professor Emeritus of Economics Stern School of Business, New York University

Chairman, Museum of American Finance rsylla@stern.nyu.edu

“We’ve had a lot of talk about fiduciary responsibility today. In this pantheon from Hamilton to Bogle … each made America a better place for everyone. Jack is one of the six key figures in American history who extended the advantages of financial investment to a wide and wider range of Americans.”

Commenters on the FOJ Survey

Charles (“Chip”) Roame

Tiburon Strategic Advisors CRoame@TiburonAdvisors.Com

“Jack Bogle will have many lasting legacies, and this survey suggest some of the most important impacts he has left on investors. The investing public learned and understood the principles that Jack espoused, ranking the tenants of investing for the long-term, minimizing costs, and diversifying portfolios all very highly. I was particularly struck by the increased focus of 40% of general investors who recognize the value of minimizing costs as the number one driver of long-term performance. Among investors who knew Jack, it’s 67%. This is legacy impact. Jack’s favorite product, index mutual funds, was also widely seen as very positive, with investors noting that index funds offer lower costs, eliminate certain risks, improve returns, and enhance transparency. For the investing public, Jack’s legacy will continue to be best described as, investing in the entire market with low cost index funds being better than stock picking. This survey definitively summarizes Jack Bogle’s positive legacy on millions of investors.”

Jeffrey Rosen

President & CEO

National Constitution Center

“Jack Bogle was revered by so many who followed or worked with him. It’s wonderful to see how brightly his legacy shines among the millions of investors who also knew him. “Made investing understandable” and “the best friend a small investor ever had” are just two phrases that grateful Americans associate with Jack, whose calm and steady wisdom will continue to guide investors for generations to come.”

Russ Wermers, Professor of Finance Smith School of Business, University of Maryland rwermers@rhsmith.umd.edu

“John C. (Jack) Bogle was a uniquely influential man. John Bogle was also eternally humble, willing to serve as the "ghost in the machine" in the efficient application of Modern Portfolio Theory to benefit the hundreds of millions of average investors. Over several decades, Bogle was a major driving force in the democratization of mutual funds for the ordinary investor on the street who did not understand the primary role of investment fees on the well-being of such an investor over the long-run. This survey shows that Bogle, while not well-known by individual investors, was very highly regarded by those who knew of him. At the end of his life, he was--by proxy--recognized through the ultimate realization by investors that the "house that Bogle built," Vanguard, is a well-respected fund management company that has delivered diversification, low costs, and investing for the long-term for small-scale investors.

Bogle did not disregard the possibility that a very few active fund managers (4-6%) can deliver market-beating returns over long time periods. From my personal interactions with him, he acknowledged the research --reinforcing that his main driving force was intellectual honesty. The challenge is knowing in advance which fund managers will do so when. Bogle cautioned individual and institutional investors that identifying such active managers was extremely difficult, and that they should default to index funds.”

Derek Horstmeyer Associate Professor of Finance George Mason University dhorstme@gmu.edu

“The survey numbers show the impact that Bogle has had not only on Vanguard investors but on the general investing public. Bogle's legacy extends far beyond Vanguard. Vanguard was the first mover in index funds but this caused all other mutual fund families to follow suit. Now all major mutual fund families offer index funds with costs that are approaching 0% a year in expense ratios and because of the index fund revolution that Bogle started, the average actively managed fund has had to reduce their fees by 50% over the past 20 years. Not only has this index fund revolution affected the costs to investors, but academic research suggests that index funds also yield better governance at firms, better CEO pay practices and better board oversight. So not only has Bogle's vision helped lower costs but it has also lead to better run firms in our markets.”

User avatar
Brianmcg321
Posts: 476
Joined: Mon Jul 15, 2019 8:23 am

Re: In honor of my personal hero John C. Bogle

Post by Brianmcg321 » Tue Jan 14, 2020 10:47 pm

Lol. That’s awesome.
Rules to investing: | 1. Don't lose money. | 2. Don't forget rule number 1.

User avatar
Cubicle
Posts: 318
Joined: Sun Sep 22, 2019 1:43 am

Re: In honor of my personal hero John C. Bogle

Post by Cubicle » Wed Jan 15, 2020 1:07 am

Legitimately jealous of the OP...

User avatar
LadyGeek
Site Admin
Posts: 58830
Joined: Sat Dec 20, 2008 5:34 pm
Location: Philadelphia
Contact:

Re: Tributes to Jack Bogle

Post by LadyGeek » Wed Jan 15, 2020 7:51 pm

It's been one year since Jack Bogle's death on January 16, 2019.

This thread is now visible at the top of all forums. The forum header color has been changed to black in remembrance of Jack.

The wiki has a compilation of Jack's posts: John Bogle forum post index

Please post your tributes here. Press on, regardless.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

User avatar
abuss368
Posts: 17197
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!
Contact:

Re: Tributes to Jack Bogle

Post by abuss368 » Wed Jan 15, 2020 8:45 pm

Mr. Bogle -

Thank you so much again for everything you have done for the average investor. You created an amazing company and made so many people better investors. We will always be in your debt. Your wisdom, advice, and calming advice will forever live on.

I am reading your last book "Stay the Course". An amazing book. I have learned so much from your articles, interviews, speeches, and books that I will always refer to and cherish.

Press on regardless!
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

User avatar
Mel Lindauer
Moderator
Posts: 30077
Joined: Mon Feb 19, 2007 8:49 pm
Location: Daytona Beach Shores, Florida
Contact:

Re: Tributes to Jack Bogle

Post by Mel Lindauer » Wed Jan 15, 2020 9:26 pm

One year ago I lost a dear friend and mentor. The world lost a true champion who spent a lifetime making sure investors got their fair share.

While you may be gone, Jack, your message lives on. Rest assured that your Bogleheads will see that it never dies.
Best Regards - Mel | | Semper Fi

User avatar
abuss368
Posts: 17197
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!
Contact:

Re: Tributes to Jack Bogle

Post by abuss368 » Wed Jan 15, 2020 9:37 pm

Mel Lindauer wrote:
Wed Jan 15, 2020 9:26 pm
One year ago I lost a dear friend and mentor. The world lost a true champion who spent a lifetime making sure investors got their fair share.

While you may be gone, Jack, your message lives on. Rest assured that your Bogleheads will see that it never dies.
Thank you Mel. Very well said.
:beer
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

User avatar
oldzey
Posts: 1467
Joined: Sun Apr 13, 2014 8:38 pm
Location: Land of Lincoln

Re: Tributes to Jack Bogle

Post by oldzey » Wed Jan 15, 2020 10:30 pm

Thank you, Jack - you chose to make a positive difference in the lives of others.

Rest in Peace...
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman

User avatar
abuss368
Posts: 17197
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!
Contact:

Re: Tributes to Jack Bogle

Post by abuss368 » Wed Jan 15, 2020 10:36 pm

Some people chose to make billions. Mr. Bogle chose to make a difference.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

User avatar
Cubicle
Posts: 318
Joined: Sun Sep 22, 2019 1:43 am

Re: Tributes to Jack Bogle

Post by Cubicle » Thu Jan 16, 2020 12:43 am

I've given my regards to Jack many times since his passing. And it's never enough in my head. His actions set in place, not just for me, but for many many of us, a path to true & real financial freedom & control. Understated. Underappreciated.

Jack Bogle: I am unfortunate to have never met you in person. I am fortunate to have found your work. I am fortunate you persevered despite the pushback you received when you started your first fund. Rest in peace. Thank you. Again & again.

rhodnius
Posts: 71
Joined: Sat May 30, 2015 5:07 pm

Re: In honor of my personal hero John C. Bogle

Post by rhodnius » Thu Jan 16, 2020 6:08 am

larryswedroe wrote:
Tue Jan 14, 2020 10:36 pm
Thought you would all enjoy the following
Vanguard Founder, John C. (Jack) Bogle, 1929-2019

Investing Public Speaks Out in FOJ Survey

Commenters on Jack Bogle

Alan Blinder, Gordon S. Rentschler Memorial Professor

of Economics and Public Affairs

Princeton University blinder@Princeton.EDU

“Bogle’s relentless voice, sharp pen, and indefatigable energy have been prodding the mutual fund industry in particular, and the financial industry more generally, to embrace higher business, fiduciary and ethical standards for decades.” May, 2010, Forward to, Don’t Count on It

Phyllis Borzi, Former Assistant Secretary, Department of Labor 2009-2017 borziphy@gmail.com

Jack’s vision and leadership created a new investor class. He never ceased to speak out forcefully when market behavior strayed from putting investors’ interest first. Jack will always be

our North Star!

Tamar Frankel Professor of Law Emerita Boston University School of Law tfrankel@bu.edu

“People affect family, friends and business associates through life. Some people affect society as a whole. Jack Bogle was one such person. He created an investment management company that benefited investors. Similar organizations have existed but Jack Bogle offered a unique structure, in which the shareholders owned the company and received quality service at lower cost.

For the Vanguard “crew members”, this meant a great deal more. Jack Bogle cared for them. Visiting Vanguard’s dining room one felt the “family relationship” atmosphere. In a meeting, more than 40 years ago, I was overwhelmed when he suddenly approached me (an unknown Israeli woman), noting my book on fiduciary law. Jack Bogle was a unique person, who combined principles with humanity, and honesty with financial stewardship. He continues to lead us today.”

Leo E. Strine, Jr., Austin Wakeman Scott lecturer on Law, Fall 2019 Harvard Law School leo.strine@outlook.com

“I was lucky to get to know Jack because I have been writing about his key topic for the entire century and especially about the important role index funds could play in making our corporate governance system more rational, if they used their voice responsibly.”

On February 28, 2014, Leo E. Strine, Jr., became the 8th Chief Justice of the Delaware Supreme Court. Previously, Chief Justice Strine had served on the Delaware Court of Chancery as Chancellor since June 22, 2011, and as a Vice Chancellor since November 9, 1998. While serving on the Court of Chancery, Chief Justice Strine wrote numerous opinions addressing issues of corporate law and authored many articles about the effect of corporations in society.

Richard Sylla, Professor Emeritus of Economics Stern School of Business, New York University

Chairman, Museum of American Finance rsylla@stern.nyu.edu

“We’ve had a lot of talk about fiduciary responsibility today. In this pantheon from Hamilton to Bogle … each made America a better place for everyone. Jack is one of the six key figures in American history who extended the advantages of financial investment to a wide and wider range of Americans.”

Commenters on the FOJ Survey

Charles (“Chip”) Roame

Tiburon Strategic Advisors CRoame@TiburonAdvisors.Com

“Jack Bogle will have many lasting legacies, and this survey suggest some of the most important impacts he has left on investors. The investing public learned and understood the principles that Jack espoused, ranking the tenants of investing for the long-term, minimizing costs, and diversifying portfolios all very highly. I was particularly struck by the increased focus of 40% of general investors who recognize the value of minimizing costs as the number one driver of long-term performance. Among investors who knew Jack, it’s 67%. This is legacy impact. Jack’s favorite product, index mutual funds, was also widely seen as very positive, with investors noting that index funds offer lower costs, eliminate certain risks, improve returns, and enhance transparency. For the investing public, Jack’s legacy will continue to be best described as, investing in the entire market with low cost index funds being better than stock picking. This survey definitively summarizes Jack Bogle’s positive legacy on millions of investors.”

Jeffrey Rosen

President & CEO

National Constitution Center

“Jack Bogle was revered by so many who followed or worked with him. It’s wonderful to see how brightly his legacy shines among the millions of investors who also knew him. “Made investing understandable” and “the best friend a small investor ever had” are just two phrases that grateful Americans associate with Jack, whose calm and steady wisdom will continue to guide investors for generations to come.”

Russ Wermers, Professor of Finance Smith School of Business, University of Maryland rwermers@rhsmith.umd.edu

“John C. (Jack) Bogle was a uniquely influential man. John Bogle was also eternally humble, willing to serve as the "ghost in the machine" in the efficient application of Modern Portfolio Theory to benefit the hundreds of millions of average investors. Over several decades, Bogle was a major driving force in the democratization of mutual funds for the ordinary investor on the street who did not understand the primary role of investment fees on the well-being of such an investor over the long-run. This survey shows that Bogle, while not well-known by individual investors, was very highly regarded by those who knew of him. At the end of his life, he was--by proxy--recognized through the ultimate realization by investors that the "house that Bogle built," Vanguard, is a well-respected fund management company that has delivered diversification, low costs, and investing for the long-term for small-scale investors.

Bogle did not disregard the possibility that a very few active fund managers (4-6%) can deliver market-beating returns over long time periods. From my personal interactions with him, he acknowledged the research --reinforcing that his main driving force was intellectual honesty. The challenge is knowing in advance which fund managers will do so when. Bogle cautioned individual and institutional investors that identifying such active managers was extremely difficult, and that they should default to index funds.”

Derek Horstmeyer Associate Professor of Finance George Mason University dhorstme@gmu.edu

“The survey numbers show the impact that Bogle has had not only on Vanguard investors but on the general investing public. Bogle's legacy extends far beyond Vanguard. Vanguard was the first mover in index funds but this caused all other mutual fund families to follow suit. Now all major mutual fund families offer index funds with costs that are approaching 0% a year in expense ratios and because of the index fund revolution that Bogle started, the average actively managed fund has had to reduce their fees by 50% over the past 20 years. Not only has this index fund revolution affected the costs to investors, but academic research suggests that index funds also yield better governance at firms, better CEO pay practices and better board oversight. So not only has Bogle's vision helped lower costs but it has also lead to better run firms in our markets.”
Wow. Thank you very much for this Larry. 😊

User avatar
oldcomputerguy
Moderator
Posts: 6874
Joined: Sun Nov 22, 2015 6:50 am
Location: In the middle of five acres of woods in East Tennessee

Re: Tributes to Jack Bogle

Post by oldcomputerguy » Thu Jan 16, 2020 7:44 am

Bumping for visibiility...

One year ago today we lost our leader. RIP, Mr. Bogle, and thank you.
"I’ve come around to this: If you’re dumb, surround yourself with smart people; and if you’re smart, surround yourself with smart people who disagree with you." (Aaron Sorkin)

bondsr4me
Posts: 1303
Joined: Fri Oct 18, 2013 7:08 am

Re: In honor of my personal hero John C. Bogle

Post by bondsr4me » Thu Jan 16, 2020 7:53 am

Thanks Larry...great piece.

Jack Bogle will ALWAYS be part of my Mt. Rushmore of Investing.....right alongside Warren Buffet, Charlie Munger, Ben Graham.

bondsr4me
Posts: 1303
Joined: Fri Oct 18, 2013 7:08 am

Re: In honor of my personal hero John C. Bogle

Post by bondsr4me » Thu Jan 16, 2020 7:54 am

rhodnius wrote:
Tue Jan 14, 2020 8:03 pm
Thank you Jack...

Image
pretty kool!

doug1022
Posts: 61
Joined: Sat Jan 24, 2015 12:44 pm
Location: Suburban Boston

Re: In honor of my personal hero John C. Bogle

Post by doug1022 » Thu Jan 16, 2020 7:56 am

love it

User avatar
abuss368
Posts: 17197
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!
Contact:

Re: Tributes to Jack Bogle

Post by abuss368 » Thu Jan 16, 2020 8:26 am

God Bless Mr. Bogle and his family.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

User avatar
Harry Livermore
Posts: 149
Joined: Thu Apr 04, 2019 5:32 am

Re: In honor of my personal hero John C. Bogle

Post by Harry Livermore » Thu Jan 16, 2020 8:47 am

Hmmmm. I may have to copy you. Envious.
Cheers

bondsr4me
Posts: 1303
Joined: Fri Oct 18, 2013 7:08 am

Re: Tributes to Jack Bogle

Post by bondsr4me » Thu Jan 16, 2020 9:27 am

LFKB wrote:
Thu Jan 17, 2019 6:06 pm
"Jack did more for American investors as a whole than any individual I've known. A lot of Wall Street is devoted to charging a lot for nothing. He charged nothing to accomplish a huge amount."

Warren Buffett
+1.

Jack, as is Warren Buffett, was a rare gem.
RIP Jack Bogle.

User avatar
LadyGeek
Site Admin
Posts: 58830
Joined: Sat Dec 20, 2008 5:34 pm
Location: Philadelphia
Contact:

Re: Tributes to Jack Bogle

Post by LadyGeek » Thu Jan 16, 2020 9:57 am

I merged rhodnius' thread into the on-going discussion.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

User avatar
Wiggums
Posts: 2429
Joined: Thu Jan 31, 2019 8:02 am

Re: In honor of my personal hero John C. Bogle

Post by Wiggums » Thu Jan 16, 2020 10:53 am

bondsr4me wrote:
Thu Jan 16, 2020 7:54 am
rhodnius wrote:
Tue Jan 14, 2020 8:03 pm
Thank you Jack...

Image
pretty kool!
Very nice...I have Maryland covered.Image
Last edited by Wiggums on Fri Jan 17, 2020 2:05 pm, edited 1 time in total.

BalancedJCB19
Posts: 46
Joined: Sat Jul 13, 2019 11:30 am

Re: Tributes to Jack Bogle

Post by BalancedJCB19 » Thu Jan 16, 2020 12:12 pm

When I'm down and not feeling myself, I think of all the trials and tribulations that Jack went through (both professionally and personally, especially health wise). He never let it stop him and he Pressed on Regardless. That always keeps me going and I thank the stars above that I picked Jack as a personal hero.

I also thank Jack for the freedom he provided for me and my family. We won the game thanks to Jack and are smart enough to realize we have Enough.

Thank you Jack, I will be forever grateful for what you have done for us. I will pay it forward which I hope in a small will carry on your legacy in making this world a better place.

User avatar
1789
Posts: 639
Joined: Fri Aug 16, 2019 3:31 pm
Location: OR

Re: Tributes to Jack Bogle

Post by 1789 » Thu Jan 16, 2020 7:11 pm

Mutual fund expenses went down to zero. Thank you Jack!
"My conscience wants vegetarianism to win over the world. And my subconscious is yearning for a piece of juicy meat. But what do i want?" (Andrei Tarkovsky)

Fallible
Posts: 7082
Joined: Fri Nov 27, 2009 4:44 pm
Contact:

Re: Tributes to Jack Bogle

Post by Fallible » Thu Jan 16, 2020 7:32 pm

When Jack Bogle talked about a “fair shake” for the average investor, he was usually talking about low-cost indexing. But beyond the product he invented, where did his deep and abiding concern for that investor come from? An answer I’ve seen in the endless tributes to him from around the world (and not just after his death but throughout his lifetime), is his humanity, his compassion for fellow human beings.

I think this humanity is wonderfully expressed in a chapter in his book, Common Sense on Mutual Funds, when he discusses the founding of Vanguard: “If simplicity was to be the focus of our investment principles, human beings would be the focus of our management principles.” He refers to “human beingness” as “one of the keys to our development.”

He goes on to further describe this “mission,” and even if you’ve read it all before, it’s worth another read, as another tribute to a great human being.
John Bogle on his often bumpy road to low-cost indexing: "When a door closes, if you look long enough and hard enough, if you're strong enough, you'll find a window that opens."

User avatar
LadyGeek
Site Admin
Posts: 58830
Joined: Sat Dec 20, 2008 5:34 pm
Location: Philadelphia
Contact:

Re: Tributes to Jack Bogle

Post by LadyGeek » Thu Jan 16, 2020 7:47 pm

Taylor Larimore has posted: IN MEMORY OF JOHN C. BOGLE

(Let's keep that as a separate thread.)
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

User avatar
abuss368
Posts: 17197
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!
Contact:

Re: In honor of my personal hero John C. Bogle

Post by abuss368 » Thu Jan 16, 2020 7:52 pm

Wiggums wrote:
Thu Jan 16, 2020 10:53 am
bondsr4me wrote:
Thu Jan 16, 2020 7:54 am
rhodnius wrote:
Tue Jan 14, 2020 8:03 pm
Thank you Jack...

Image
pretty kool!
Very nice...
That license plate is awesome.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

Trader Joe
Posts: 1442
Joined: Fri Apr 25, 2014 6:38 pm

Re: Tributes to Jack Bogle

Post by Trader Joe » Thu Jan 16, 2020 9:00 pm

Thank you for everything John Bogle!

Post Reply