VALLEY FORGE, Pa. (AP) — Vanguard Group founder and investing pioneer John C. Bogle has died at age 89, according to the company.
Bogle simplified investing for the masses by introducing the first index mutual fund for individual investors in 1976. Vanguard also shook up the industry by ending the company’s reliance on outside brokers by directly marketing its funds to investors without charging upfront fees known as sales loads.
Bogle served as Vanguard’s chairman and CEO from its 1974 founding until 1996. He stepped down as senior chairman in 2000, but remained a vocal critic of the fund industry and Wall Street, writing books, delivering speeches and running a markets think tank that bears his name.
My 401(k) salutes you, sir!
John Bogle was ever involved with the ghouls of Wall Street that wiped put middle-class America. an honest financial guy. We should all say a prayer for this good man
If that is so, too bad the wire service couldn’t find a less evil villain floor lit photograph
Meanwhile, we have this clown advising the other clown on economic issues.
Normally on any given day, I would not have foot to stand on to say this. But I could do a far better job then smiley. I checked with my cat, the eldest and he agreed, he could do better.
My company 401k switched from Vanguard (which was making money and everybody loved) to the other leading competitor (starts with an F) because “we thought a change would be good”, whereupon we immediately lost money and had higher fees. Go figure. Somebody got a kickback.
I have stayed with Vanguard since, some of the lowest fees in the business. It pays off. Invest until it hurts (I started in my late 20s with my first ‘real’ job) for it will payoff in your 50s- 60s when another recession hits and they fire all the old farts. Vogel was a genius.