Warren Buffet once said if a statue were to be erected to the person who had done the most for the American investor “the hands-down choice should be Jack Bogle.”
John C. (Jack) Bogle passed away this week at the age of 90. He was the founder of the Vanguard Group and its family of funds which was managing $5.3 trillion (with a “T”) at his death. Of particular note is that Mr. Bogle created the “index fund” which, with its low cost and broad diversification, gave millions of smaller investors opportunity to participate meaningfully in the world’s equity markets. Check out this obituary of a remarkable man, and a quick summary of his investment advice.
Rest in Peace, Mr. Bogle….and thank you!