Bogle married Eve Sherrerd on September 22, 1956, and had six children: Barbara, Jean, John Clifton, Nancy, Sandra, and Andrew. 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. He was 89. He was 89. 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. John Clifton ‘Jack’ Bogle is the founder of the mutual fund company ‘Vanguard Group’. The best ten-year return for the S&P 500 was from 1990 – 2000, with a return of 20% a year. 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. , Bogle died on January 16, 2019, at his home in Bryn Mawr, Pennsylvania.  Bogle received honorary doctorates from Princeton University in 2005 and Villanova University in 2011. A year later, he merged the firm with Thorndike, Doran, Paine & Lewis, a Boston-based money management firm. The couple is living happily for so long and are grandparents. Career, Awards & Nominations. Though, he was 1.73 m tall, he weighs about 85 kg. Jack Bogle: Trump Is Wrong, ETFs Are Bogus and Foreign Investing Is Useless . 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. Institutional Investor magazine dubbed the dynamic team of five young executives \"The Whiz Kids.\" Mr. Bogle subsequently became Wellington's CEO. 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. My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. Let’s say you had bought and held gold like Ron Paul has been advising people to do since the 1970s when he first ran for Congress. After successfully climbing through the ranks, in 1970 he replaced Morgan as chairman of Wellington, but was later fired for an "extremely unwise" merger that he approved. 1999 was a bad year to invest in the S&P 500 with John Bogle. Born in Montclair, New Jersey, he later settled in Bryn Mawr, Pennsylvania with his wife and his six children. , Bogle and his twin, David, attended Manasquan High School near the New Jersey shore for a time. In 1965, at age 35, Mr. Bogle was named executive vice president of Wellington Management Company. 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. 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. You might get lucky for a year or five or ten. But if you hire a money manager to beat the market you have to pay—and you pay whether or not the manager succeeds. Jack Bogle’s Personal Investment Portfolio. 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. 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. September 23, 2020 UTC: 12:21 PM. His ideas have grown into the cornerstone of … 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 Jack (John) Bogle talks about how to invest during challenging times in the market. 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. Profile. In a way, you could say that John Bogle was a pioneer in algorithmic investing. 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. The Fast Money traders weigh in. , 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. Jody Bogle Director of Public Relations.  At Blair, Bogle showed a particular aptitude for mathematics, with numbers and computations fascinating him. 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. Their academic record there enabled them to transfer to Blair Academy on work scholarships. 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. 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. 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. , Bogle argued for an approach to investing defined by simplicity and common sense. Bogle and his other twin brother had to start working at a very tender age. This page was last edited on 3 January 2021, at 18:38. He died on January 16 at age 89.  Bogle served on the board of trustees of the National Constitution Center in Philadelphia, a museum dedicated to the U.S. 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. 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. And his enduring contribution to the investing world is his 1975 invention– the creation of the first index mutual fund for individual investors. Constitution. He began working at age 10 delivering newspapers and didn’t stop working until the very end of his life. 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. Eventually, though, your luck will run out. , During his high-earning years at Vanguard, he regularly gave half his salary to charity, including Blair Academy and Princeton. In addition to his business career, Bogle wrote extensively. Mike Nolan .  In a 2005 speech, Samuelson ranked "this Bogle invention along with the invention of the wheel, the alphabet, Gutenberg printing". Jack Bogle had an incredible work ethic. , 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. 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. "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. As a kid working in the fields, Jody didn't have much desire to work in the family business. According to … , 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), adding: "I do not believe that such a concentration would serve the national interest. His successor was John J. Brennan, his handpicked successor and second-in-command, whom he had hired in 1982. 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. Eventually, he succeeded, and the new fund became a turning point in his career. Bogle, who was then 66 and "considered past the age for a healthy heart transplant", had a successful heart transplant in 1996. 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. We salute you. 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. Personal Life: Affair, Girlfriends, Wife, Kids John Bogle is married to Eve Bogle. John Bogle started his career in investment and banking in the year 1951 with the “Wellington Fund”. 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. Now that’s a diverse portfolio, but I bet John Bogle’s wife Eve Bogle was glad she didn’t diversify. Bogle spent his junior and senior years working on his thesis "The Economic Role of the Investment Company". He received a heart transplant in 1996 at age 66. Learn about John Bogle's age at the time of death, height, weight, dating, wife, girlfriend & kids. Dan Caplinger … 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. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Jack Bogle was the entrepreneur-founder of Vanguard, now the largest mutual fund in the world boasting $4.5 trillion in assets. John Bogle is married to Eve Bogle. "He was a tremendously intelligent, driven, and talented visionary whose ideas completely changed the way we invest. , 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. Age, Height, and Weight Being born on 8 May 1929, Jack Bogle was 90 years old at the time of … The product was, at first, a sales flop. John C Bogle has not been previously engaged. , Politically, Bogle was a Republican, although he voted for Bill Clinton, for Barack Obama in 2008 and 2012, and for Hillary Clinton in 2016. He was the founder and chief executive of The Vanguard Group, and is credited with creating the first index fund. 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. John C Bogle is single. 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. In 1947, Bogle graduated from Blair Academy cum laude and was accepted at Princeton University, where he studied economics and investment. In 1993, Bogle published his first book, Bogle on Mutual Funds: New Perspectives for the Intelligent Investor. 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. But Paul Samuelson was the precipitating force that made me act when I did act. They joined their older brother William Yates III (Bud) and became known by a lifelong circle of friends as the Bogle Boys. John Clifton "Jack" Bogle, founder of The Vanguard Group and creator the world’s first index mutual fund, has died. As of now, Jack Bogle resides with his wife in Bryn Mawr, Pennsylvania. They resided in Bryn Mawr, Pennsylvania. Jack Bogle, the founder of the Vanguard Group who pioneered the idea of low-cost investing and index funds, has died.  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. , Bogle was a member of the board of trustees at Blair Academy. Personal Life: Affair, Girlfriends, Wife, Kids. During his university years, Bogle studied the mutual fund industry. They were based on the investing principle of diversification to mitigate losses. Jack Bogle was born on 8 May 1929 in Montclair, New Jersey. 8-May-1929, d. 1994) Wife: Eve M. 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