John (Jack) C. Bogle passed away on January 16, 2019, he was 89 years old. Jack is the founder of Vanguard and introduced the first index mutual fund. His legacy will be marked by his never wavering pursuit to help main street investors. Jack was never afraid to buck the embedded traditions of his industry. He delivered a way for every investor to participate in the economic growth of the U.S. and global capital markets, and he did so with a focus towards investors’ best interests. His contributions have made capital markets more efficient and have lowered the cost of investing for everyone. The world could use more people like Jack Bogle. Thank you, Mr. Bogle!
We could wax poetic about the contributions Mr. Bogle has made over the last nine decades, but we think it best to share others’ thoughts.
In Warren Buffet’s 2017 Berkshire Hathaway Shareholder letter he wrote:
“If a statue is ever erected to honor the person who has done the most for American Investors, the hands down choice should be Jack Bogle. For decades, Jack has urged investors to invest in ultra-low-cost index funds. In his crusade, he amassed only a tiny percentage of the wealth that has typically flowed to managers who have promised their investors large rewards while delivering them nothing – or, as in our bet, less than nothing – of added value. In his early years, Jack was frequently mocked by the investment-management industry. Today, however, he has the satisfaction of knowing that he helped millions of investors realize far better returns on their savings than they otherwise would have earned. He is a hero to them and to me.”
Courtesy of Vanguard
Here is Vanguard’s official announcement, honoring Mr. Bogle and his incredible life: Vanguard Announcement
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