Jack Bogle’s family said his passing was peaceful, but I bet Death would beg to differ. 1990 was a good year to invest in the S&P 500 index mutual fund with John Bogle. His family had to sell their house due to stock market crash in 1929 and they lost all their inheritance. 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. Bogle said the current system in the US had "gotten out of balance", and advocated for "taxes to discourage short-term speculation, limits on leverage, transparency for financial derivatives, stricter punishments for financial crimes, and a unified fiduciary standard for all money managers". 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. REUTERS/Brendan McDermid Legendary Investor John Bogle Dead at 89, Bet His Wife Is Glad She Didn’t Diversify. Bogle spent his junior and senior years working on his thesis "The Economic Role of the Investment Company". [22][23], Bogle was a member of the board of trustees at Blair Academy. Bogle worked at an ice-cream parlor and also started delivering newspapers at the age of ten. Now that’s a diverse portfolio, but I bet John Bogle’s wife Eve Bogle was glad she didn’t diversify. But have there been any ten year periods in which the S&P 500 actually depreciated in value? 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 John C Bogle has not been previously engaged. 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. 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. Jack Bogle had an incredible work ethic. Jack Bogle, Vanguard founder and father of the index fund, has died. [30][31], During his high-earning years at Vanguard, he regularly gave half his salary to charity, including Blair Academy and Princeton. [29], Bogle died on January 16, 2019, at his home in Bryn Mawr, Pennsylvania. Institutional Investor magazine dubbed the dynamic team of five young executives \"The Whiz Kids.\" Mr. Bogle subsequently became Wellington's CEO. September 23, 2020 UTC: 12:21 PM. The best ten-year return for the S&P 500 was from 1990 – 2000, with a return of 20% a year. John had at least relationship in the past. [16], Bogle's idea of index investing offers a clear yet prominent distinction between investment and speculations. Their academic record there enabled them to transfer to Blair Academy on work scholarships. [citation needed] Bogle received honorary doctorates from Princeton University in 2005[24] and Villanova University in 2011. 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. Learn about John Bogle's age at the time of death, height, weight, dating, wife, girlfriend & kids. 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. Bogle, who was then 66 and "considered past the age for a healthy heart transplant", had a successful heart transplant in 1996. Institutional Investor's Lifetime Achievement Award (2004). 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. Brother: William Yates Bogle III (b. And his enduring contribution to the investing world is his 1975 invention– the creation of the first index mutual fund for individual investors. [13], Bogle argued for an approach to investing defined by simplicity and common sense. 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. John is mostly known to the public for his bestselling book “Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor”. 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. 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. However, with the opening of the tasting room in 1997, she found her calling in hospitality and events, international wine sales and the Bandwagon wine club. John C Bogle is single. Career, Awards & Nominations. 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 a way, you could say that John Bogle was a pioneer in algorithmic investing. [14], His subsequent return to Vanguard with the title of senior chairman led to conflict between Bogle and Brennan. Eventually, he succeeded, and the new fund became a turning point in his career. Profile. 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. An avid investor and money manager himself, he preached investment over speculation, long-term patience over short-term action, and reducing broker fees as much as possible. Though, he was 1.73 m tall, he weighs about 85 kg. Jack Bogle’s Personal Investment Portfolio. They resided in Bryn Mawr, Pennsylvania. CNBC's Tyler Mathisen reports that Vanguard Founder Jack Bogle has passed away at the age of 89. [26] He was named chairman emeritus in January 2007, when former president George H. W. Bush was named chairman. Jack Bogle was the entrepreneur-founder of Vanguard, now the largest mutual fund in the world boasting $4.5 trillion in assets. [13], Bogle suffered heart issues in the 1990s, subsequently relinquishing his role as Vanguard CEO in 1996. This page was last edited on 3 January 2021, at 18:38. John Bogle started his career in investment and banking in the year 1951 with the “Wellington Fund”. [19] This group is now supported by the John C. Bogle Center for Financial Literacy and hosts national conferences in addition to its online forum. Ryan Bogle Vice President, Chief Financial Officer. [7] At Blair, Bogle showed a particular aptitude for mathematics, with numbers and computations fascinating him. "[10], In 1974, Bogle founded the Vanguard Company, which is now one of the most respected and successful companies in the investment world. So, it was not a new subject for me. John Clifton ‘Jack’ Bogle is the founder of the mutual fund company ‘Vanguard Group’. He was the founder and chief executive of The Vanguard Group, and is credited with creating the first index fund. 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 … As of now, Jack Bogle resides with his wife in Bryn Mawr, Pennsylvania. They joined their older brother William Yates III (Bud) and became known by a lifelong circle of friends as the Bogle Boys. John C. Bogle’s age was 89 years old at the time of his death. A year later, he merged the firm with Thorndike, Doran, Paine & Lewis, a Boston-based money management firm. According to … Bogle believed this is an important analysis to be taken into account as short-term, risky investments have been flooding the financial markets. It was not immediately well received by individuals or the investment industry, but is now lauded by investment-legend Warren Buffett, among others. Personal Life: Affair, Girlfriends, Wife, Kids John Bogle is married to Eve Bogle. Yes there have, so even diversifying your stock portfolio to the point of just buying the S&P 500 is no guarantee that this asset class will grow or even be what it’s worth today over ten years, and volatility on that scale could be a financial disaster. [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. Mike Nolan. The Fast Money traders weigh in. Even if a business is steady in cash flow, the market quotations of a security are anything but, as a result of speculators driving up prices and bringing down prices based on hope, fear and greed. 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. 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. 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 is not dating anyone currently. Investment is concerned with capturing returns on the long-run with lower risk of destruction of capital, while speculation is concerned with achieving returns over a short period of time, with potentially destructive risk to capital. My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. He pioneered low-cost index funds and was lauded by Warren Buffett. He was 89. 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. 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. Eventually, though, your luck will run out. In 1947, Bogle graduated from Blair Academy cum laude and was accepted at Princeton University, where he studied economics and investment. [11] In 1999, Fortune magazine named Bogle as "one of the four investment giants of the twentieth century". [6], Bogle and his twin, David, attended Manasquan High School near the New Jersey shore for a time. [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. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. 1927) Brother: David Caldwell Bogle (his twin, b. John Bogle with Allan S. Roth and his wife, Patricia Roth, in October 2018. Jack Bogle was born on 8 May 1929 in Montclair, New Jersey. Below are his eight basic rules for investors:[18], His investment philosophy is the founding principal of the eponymous "Bogleheads" forum. [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. 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. With each passing year it becomes more likely that you will be overtaken by the law of averages.”. They were based on the investing principle of diversification to mitigate losses. 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. Jack Bogle, credited with upending the way we invest through index funds has died aged 89. 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. Bogle and his other twin brother had to start working at a very tender age. [5], His family was affected by the Great Depression. [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. Rest in Peace Mr. Bogle. Mike Nolan . by W. E. Messamore. Is he dead or alive? Jack (John) Bogle talks about how to invest during challenging times in the market. [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. 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. [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. He received a heart transplant in 1996 at age 66. Sounds quite reasonable. Bogle was bugged by active asset management fees charged by professional investors that he felt were too high and eating into their clients’ profits without delivering enough performance. The product was, at first, a sales flop. 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. Personal Life: Affair, Girlfriends, Wife, Kids. John Clifton "Jack" Bogle, founder of The Vanguard Group and creator the world’s first index mutual fund, has died. 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. 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. In 1965, at age 35, Mr. Bogle was named executive vice president of Wellington Management Company. "[21], Bogle married Eve Sherrerd on September 22, 1956, and had six children: Barbara, Jean, John Clifton, Nancy, Sandra, and Andrew. 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. John Bogle, who created the first index fund in 1975 and founded The Vanguard Group, died Wednesday at the age of 89. 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. [2][3], John Bogle was born on May 8, 1929, in Montclair, New Jersey[4] to William Yates Bogle, Jr. and Josephine Lorraine Hipkins. John Clifton "Jack" Bogle (May 8, 1929 – January 16, 2019) was an American investor, business magnate, and philanthropist. His 1999 book Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor became a bestseller and is considered a classic within the investment community. The couple is living happily for so long and are grandparents. Jack Bogle had an incredible work ethic. [15], For the Scottish portrait miniaturist, see, Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, arrhythmogenic right ventricular dysplasia, The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns, "A Mutual Fund Master, Too Worried to Restprimary", "Updated: Vanguard Group founder John C. Bogle '51 passes away at 89", "Vanguard Founder John Bogle Sees No Good Alternatives to Indexing", "John Bogle dies at 89; fought for lower fees for investors", "Investor Jack Bogle founded his legendary company based on his Princeton senior thesis", "Why the world's biggest investor backs the simplest investment", "Vanguard founder Bogle and surgeons gather for a heart-transplant reunion", "A Mutual Fund Master, Too Worried to Rest", "The Stupidest Thing You Can Do With Your Money (Ep. Details; Husband: Jack Bogle: Wife: Eve Sherrerd Bogle: Start Date: 1956-00-00: End Date: 2019-01-00: Is Current: no: Notes: His death The fellowship sponsors 20 first year students in each class. 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. 1999 was a bad year to invest in the S&P 500 with John Bogle. January 4, 2012 By Jonathan Ping 12 Comments. In 2016, the Bogle Fellowship was established at Princeton University by John C. Bogle Jr, Bogle's son. Jack Bogle, the founder of Vanguard Group, died on Wednesday at age 89. His successor was John J. Brennan, his handpicked successor and second-in-command, whom he had hired in 1982. We salute you. You might get lucky for a year or five or ten. [9], After graduating from Princeton, Bogle narrowed his career options to banking and investments. [citation needed], 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. 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 began working at age 10 delivering newspapers and didn’t stop working until the very end of his life. Been following the "Bogle" method since I read about it 5 years ago, but I feel like I've been cheating with using all target date funds. (Don’t put all your eggs in one basket and definitely don’t then pay some big fees to someone to manage that basket even if they send it back to you with fewer eggs!). 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. 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