As a kid working in the fields, Jody didn't have much desire to work in the family business. Eventually, though, your luck will run out. The best ten-year return for the S&P 500 was from 1990 – 2000, with a return of 20% a year. [6], Bogle and his twin, David, attended Manasquan High School near the New Jersey shore for a time. The ideal investment vehicle for Bogle was a low-cost index fund held over a period of a lifetime with dividends reinvested and purchased with dollar cost averaging. [12], In 1976, influenced by the works of Paul Samuelson, Bogle created the First Index Investment Trust (a precursor to the Vanguard 500 Index Fund) as the first index mutual fund available to the general public. Age, Height, and Weight Being born on 8 May 1929, Jack Bogle was 90 years old at the time of … But if you hire a money manager to beat the market you have to pay—and you pay whether or not the manager succeeds. This American businessman and investor is also the author of the book Common Sense on Mutual Fund: New Imperatives for the Intelligent Investor, which is regarded as a classic guide for investors and hence it became the best-selling book in the group of investment guides. Explore John Bogle's Bio-Wiki, net worth & salary in 2021. A theory: That lost decade of economic growth was the hidden tax to pay for the all of the United States and NATO’s military interventions in armed conflicts and political controversies all over the planet starting in 1990 through the Iraq War. [19], Later in his life, Bogle expressed concerns that the growing popularity of passive indexing would lead to a concentration of corporate voting power for leaders of the three largest investment firms (Vanguard, BlackRock and State Street),[20] adding: "I do not believe that such a concentration would serve the national interest. "Jack Bogle made an impact on not only the entire investment industry—but more importantly, on the lives of countless individuals saving for their futures or their children's futures—"said Vanguard CEO Tim Buckley. Jack Bogle: Trump Is Wrong, ETFs Are Bogus and Foreign Investing Is Useless . [14], His subsequent return to Vanguard with the title of senior chairman led to conflict between Bogle and Brennan. The main difference between investment and speculation lies in the time horizon and the risk of capital. In a way, you could say that John Bogle was a pioneer in algorithmic investing. [2][3], John Bogle was born on May 8, 1929, in Montclair, New Jersey[4] to William Yates Bogle, Jr. and Josephine Lorraine Hipkins. [16], Bogle's idea of index investing offers a clear yet prominent distinction between investment and speculations. [15], Bogle's innovative idea was creating the world's first index mutual fund in 1975. John Clifton "Jack" Bogle (May 8, 1929 – January 16, 2019) was an American investor, business magnate, and philanthropist. They joined their older brother William Yates III (Bud) and became known by a lifelong circle of friends as the Bogle Boys. [5], His family was affected by the Great Depression. Jack Bogle, the founder of Vanguard Group, died on Wednesday at age 89. My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. This page was last edited on 3 January 2021, at 18:38. January 4, 2012 By Jonathan Ping 12 Comments. For a guy who helped create the modern investment-management industry as the founder of Vanguard Group, John "Jack" Bogle has an interesting relationship with money: He hates to use it. And John Bogle’s reckoning that overall, over enough time, the U.S. economy will move in a healthily more profitable direction, as losses and gains average out to steady, healthy profits while fees are kept super thin. REUTERS/Brendan McDermid Legendary Investor John Bogle Dead at 89, Bet His Wife Is Glad She Didn’t Diversify. They lost their money and had to sell their home, with his father falling into alcoholism which resulted in his parents' divorce. [17], Bogle is known for his insistence, in numerous media appearances and in writing, on the superiority of index funds over traditional actively managed mutual funds. According to … You might get lucky for a year or five or ten. [13], Bogle argued for an approach to investing defined by simplicity and common sense. His simple and important idea was that a few simple rules could manage a stock portfolio for better returns than a human sweating over it every day. [27] In 2017, Bogle stated that President Donald Trump's policies were good for the market in the short-term, but dangerous for society as a whole in the long term. Wife/Spouse (Name): Eve Bogle: Children: Yes (Sandra Bogle Marucci, Jean Bogle, Nancy Moore Bogle, Andrew Armstrong Bogle, Barbara Bogle Renninger, John Bogle Jr.) Dating/Girlfriend (Name): N/A: Profession: Investor, business magnate, and philanthropist: Net Worth in 2021: $85 million: Last Updated: January 2021 [22][23], Bogle was a member of the board of trustees at Blair Academy. Institutional Investor's Lifetime Achievement Award (2004). Bogle, who was then 66 and "considered past the age for a healthy heart transplant", had a successful heart transplant in 1996. [citation needed] Bogle received honorary doctorates from Princeton University in 2005[24] and Villanova University in 2011. "He was a tremendously intelligent, driven, and talented visionary whose ideas completely changed the way we invest. He was an advisory board member of the Millstein Center for Corporate Governance and Performance at the Columbia Law School. Born in Montclair, New Jersey, he later settled in Bryn Mawr, Pennsylvania with his wife and his six children. During his university years, Bogle studied the mutual fund industry. [citation needed], Politically, Bogle was a Republican, although he voted for Bill Clinton, for Barack Obama in 2008 and 2012,[27] and for Hillary Clinton in 2016. A year later, he merged the firm with Thorndike, Doran, Paine & Lewis, a Boston-based money management firm. With each passing year it becomes more likely that you will be overtaken by the law of averages.”. REUTERS/Brendan McDermid, Sudden Selloff Hits Hong Kong Stocks: $4.77 Billion Vaporized, Dow Jones Rockets after Report Claims Trade War Winding Down. Members of the group have collaborated to write three books proclaiming Jon Bogle's investment philosophy. John Bogle with Allan S. Roth and his wife, Patricia Roth, in October 2018. [30][31], During his high-earning years at Vanguard, he regularly gave half his salary to charity, including Blair Academy and Princeton. Mr. Bogle was nicknamed “Jack” Many in the financial industry were saddened to hear of the passing of John C. Bogle at the age of 89 on January 16, 2019. In his draft prospectus in 1976, Bogle projected that the fund would be able to operate charging 0.30% annually to cover operating expenses, along with another 0.20% to pay for transactions. He was hired at Wellington Fund and promoted to an assistant manager position in 1955, where he obtained a broader access to analyze the company and the investment department. Mr. Bogle, a chipper and unpretentious man who invited everyone to call him “Jack,” was founder and for many years chairman of the Vanguard Group, the Malvern-based mutual-fund company, where he pioneered low-cost, low-fee investing and mutual funds tied to stock-market indexes. His family had to sell their house due to stock market crash in 1929 and they lost all their inheritance. [9], After graduating from Princeton, Bogle narrowed his career options to banking and investments. The product was, at first, a sales flop. Career, Awards & Nominations. It was not immediately well received by individuals or the investment industry, but is now lauded by investment-legend Warren Buffett, among others. Jack Bogle, the founder of investing firm Vanguard Group, died on Wednesday at age 89.; Bogle pioneered low-cost index funds and was lauded by fellow investor Warren Buffett as "a hero. He pioneered low-cost index funds and was lauded by Warren Buffett. 19th Century railroad and shipping magnate Cornelius Vanderbilt once said, “I don’t care half so much about making money as I do about making my point, and coming out ahead.”. In 1993, Bogle published his first book, Bogle on Mutual Funds: New Perspectives for the Intelligent Investor. John C Bogle has not been previously engaged. He contends that it is folly to attempt to pick actively managed mutual funds and expect their performance to beat a low-cost index fund over a long period of time, after accounting for the fees that actively managed funds charge. Legendary investor John Bogle, founder of Vanguard Group (with over $5.1 trillion in assets under management) along with an entire philosophy for investing in equities, and a loyal following of “Bogleheads,” died Wednesday at the age of 89. Ten additional books followed; one of w… Their academic record there enabled them to transfer to Blair Academy on work scholarships. 8-May-1929, d. 1994) Wife: Eve M. Sherrerd (m. 22-Sep-1956, until his death, four daughters, two sons) Daughter: Barbara Josephine Bogle Renninger Daughter: Jean Sherrerd Bogle Son: John Clifton Bogle, Jr. [26] He was named chairman emeritus in January 2007, when former president George H. W. Bush was named chairman. But Paul Samuelson was the precipitating force that made me act when I did act. It was a poor decision that he considers his biggest mistake, stating, "The great thing about that mistake, which was shameful and inexcusable and a reflection of immaturity and confidence beyond what the facts justified, was that I learned a lot. Screens display a tribute to Jack Bogle, founder and retired CEO of The Vanguard Group, on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 17, 2019. September 23, 2020 UTC: 12:21 PM. He died on January 16 at age 89. Mike Nolan . Now let’s say you had invested instead with Texas Congressman and three-time presidential candidate Ron Paul back in 1999 instead of bought the stock market with John Bogle. For a guy who helped create the modern investment-management industry as the founder of Vanguard Group, John "Jack" Bogle has an interesting relationship with money: He hates to use it. They resided in Bryn Mawr, Pennsylvania. Brother: William Yates Bogle III (b. Bogle and his other twin brother had to start working at a very tender age. From Investopedia: “The average annualized total return for the S&P 500 index over the past 90 years was 9.8%.” Well, that’s not bad. 297 Rebroadcast)", "About Us | Bogleheads Investing Advice and Info", Vanguard founder John Bogle warns index funds becoming too big, "Pennsylvania Senator Robert P. Casey Jr. to Deliver Villanova University's 2011 Commencement Address", "The unsung hero of your comfortable retirement", "Vanguard founder Jack Bogle says near-term Trump agenda good for stocks, but bad long term", "John C. Bogle, Founder of Financial Giant Vanguard, Is Dead at 89", "Jack Bogle, founder of Vanguard Group and creator of the index fund, dies at age 89", "John Bogle, Vanguard Founder Who Created Index Funds, Dies at 89", John C. Bogle Papers at the Seeley G. Mudd Manuscript Library, Princeton University, Remarks before the Harvard Club of Boston, January 14, 2003, "Books of Our Time" interview with John Bogle, January 2007, That's Why They Call It Vanguard – Bloomberg, https://en.wikipedia.org/w/index.php?title=John_C._Bogle&oldid=998079744, American chief executives of financial services companies, Articles with unsourced statements from June 2019, Articles with unsourced statements from January 2019, Wikipedia articles with SNAC-ID identifiers, Wikipedia articles with SUDOC identifiers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, Consider carefully the added costs of advice, Use past performance to determine consistency and risk, Beware of stars (as in, star mutual fund managers), Named one of the investment industry's four "Giants of the 20th Century" by, Named one of the "world's 100 most powerful and influential people" by. He was acclaimed as one … John Clifton "Jack" Bogle, founder of The Vanguard Group and creator the world’s first index mutual fund, has died. Sounds quite reasonable. Jack Bogle: Well, he was the guy, I actually had been talking about an index fund, believe it or not, Steve, since my Princeton University thesis in 1951, where I said mutual funds can make no claim to superiority over the market indexes. Instead of your investment bleeding 3% for ten years while the Federal Reserve bank ran the printing press to pay for the invasion of the Middle East, plus bailouts for Wall Street businesses that lost stupid amounts of money, and the ongoing massive social welfare bureaucracies, your gold would have made a nice 14.83% return. "[21], Bogle married Eve Sherrerd on September 22, 1956, and had six children: Barbara, Jean, John Clifton, Nancy, Sandra, and Andrew. Jack Bogle, the founder of the Vanguard Group who pioneered the idea of low-cost investing and index funds, has died. His successor was John J. Brennan, his handpicked successor and second-in-command, whom he had hired in 1982. Bogle's idea was that instead of beating the index and charging high costs, the index fund would mimic the index performance over the long run—thus achieving higher returns with lower costs than the costs associated with actively managed funds. That’s an investing algorithm, and it’s one that is simple enough that it could be written as contractual policy and executed by a small business. Personal Life: Affair, Girlfriends, Wife, Kids John Bogle is married to Eve Bogle. Jack Bogle’s family said his passing was peaceful, but I bet Death would beg to differ. Maybe that’s what John Bogle was thinking in 1975 when he started Vanguard Group and then set about proving his point that active management fees weren’t really worth it by creating the first retail mutual index fund in 1976. The speculator is often only concerned with the price of a security and not the underlying business as a whole, the investor is concerned with the underlying business and not the price of the security. Bogle is still going strong at age 88, and I asked him how his wife, Eve, is adjusting to his still-busy schedule. Is he dead or alive? "[10], In 1974, Bogle founded the Vanguard Company, which is now one of the most respected and successful companies in the investment world. Dan Caplinger … [8], Bogle graduated magna cum laude from Princeton in 1951 and was soon hired by Walter L. Morgan, reportedly as a result of Morgan reading his 130-page thesis paper. Jack Bogle was born on 8 May 1929 in Montclair, New Jersey. John C. Bogle, né le 8 mai 1929, à Montclair [1] et mort le 16 janvier 2019 [2], est un investisseur américain et une personnalité de la finance.Il est le fondateur de The Vanguard Group, classée deuxième société de gestion en ce qui concerne les actifs sous gestion, et considéré comme le père des fonds indiciels.. Biographie. He received a heart transplant in 1996 at age 66. He began working at age 10 delivering newspapers and didn’t stop working until the very end of his life. What Jack Bogle's Legacy Means for My Family -- and Yours The death of Vanguard's founder won't stop his life's work from living on. We salute you. In 2016, the Bogle Fellowship was established at Princeton University by John C. Bogle Jr, Bogle's son. The fellowship sponsors 20 first year students in each class. The worst ten-year return for the S&P 500 was from 1999 – 2009, with a loss of 3% a year. And his enduring contribution to the investing world is his 1975 invention– the creation of the first index mutual fund for individual investors. In 1965, at age 35, Mr. Bogle was named executive vice president of Wellington Management Company. That’s why a lot of people are investing in hard assets like private digital currencies and precious metals, as well as equities like index funds and ETFs, and stocks for companies they know something about and believe in. The Grim Reaper finally prevailed over Jack, but it must have been the fight of the century. As William Baldwin recounts at Forbes: “The fund bought every stock in the S&P 500 index and set about delivering the market’s average return. They have six children. John Bogle, who popularized the low-cost index-based mutual fund as founder of Vanguard Group Inc. and insisted that most stock-picking money managers weren’t worth the … The couple is living happily for so long and are grandparents. Mike Nolan. John Clifton Bogle was born on 8 May 1929, in Montclair, New Jersey USA, and is a successful businessman, the founder of The Vanguard Group, and popular writer. Jack Bogle, credited with upending the way we invest through index funds has died aged 89. Constitution. John Bogle with Allan S. Roth and his wife, Patricia Roth, in October 2018. [28] He supported the Volcker rule and tighter rules on money market funds, and was critical of what he believed was the US government's lack of regulation of the financial sector. by W. E. Messamore. Bogle worked at an ice-cream parlor and also started delivering newspapers at the age of ten. Personal Life: Affair, Girlfriends, Wife, Kids. Bogle believed this is an important analysis to be taken into account as short-term, risky investments have been flooding the financial markets. If you are looking for one extra plaudit for Jack Bogle’s index fund, it comes from arguably the world’s greatest active investor, Warren Buffett. Jody Bogle Director of Public Relations. Jack Bogle, Vanguard founder and father of the index fund, has died. Bogle left the company in 1999 and moved to Bogle Financial Markets Research Center, a small research institute not directly connected to Vanguard but located on the Vanguard campus. As of now, Jack Bogle resides with his wife in Bryn Mawr, Pennsylvania. CNBC's Tyler Mathisen reports that Vanguard Founder Jack Bogle has passed away at the age of 89. At age 31, Bogle suffered from his first of several heart attacks, and at age 38, he was diagnosed with the rare heart disease arrhythmogenic right ventricular dysplasia. Which is why an index fund could be viewed as not diverse enough, because all it does is diversify within a single asset class, not across them. He produced articles for The Journal of Portfolio Management and the Financial Analysts Journal. They resided in Bryn Mawr, Pennsylvania. Bogle demonstrated initiative and creativity by challenging the Wellington management to change its strategy of concentration on a single fund, and did his best to make his point in creating a new fund. Jack Bogle was the entrepreneur-founder of Vanguard, now the largest mutual fund in the world boasting $4.5 trillion in assets. In 1947, Bogle graduated from Blair Academy cum laude and was accepted at Princeton University, where he studied economics and investment. We've worked very hard and I now believe that my wife and I are at a point where tax advantages matter, we probably can reduce expense's by moving out of target funds, and we have ~$100k extra in a HYSA that should be invested. While others in his position may have spent their retirement years in leisure, I don’t think the word “retirement” was in Jack’s vocabulary…at least as applied to himself. John C. Bogle’s age was 89 years old at the time of his death. They were based on the investing principle of diversification to mitigate losses. John Clifton ‘Jack’ Bogle is the founder of the mutual fund company ‘Vanguard Group’. Though, he was 1.73 m tall, he weighs about 85 kg. So, it was not a new subject for me. The Fast Money traders weigh in. Screens display a tribute to Jack Bogle, founder and retired CEO of The Vanguard Group, on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 17, 2019. [11] In 1999, Fortune magazine named Bogle as "one of the four investment giants of the twentieth century". John Bogle is married to Eve Bogle. Mr. Bogle, known as Jack, was born May 8, 1929 in Montclair NJ with his twin brother David Caldwell to William Yates Bogle Jr and Josephine Hipkins Bogle. He was the founder and chief executive of The Vanguard Group, and is credited with creating the first index fund. He was 89. Profile. Jack Bogle had an incredible work ethic. 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