An Homage to John "Jack" Bogle
On January 16th, Vanguard founder John “Jack” Bogle, passed away at age 89 in his Bryn Mawr home.
In my own pursuit to develop a lifelong investment strategy in the late 1990s that would help me capture my stellar earnings and build durable wealth, one of the first people I turned to was John Bogle.
I'm fortunate that I adopted his approach and was able to not only capture my stellar earnings, but very much profit from participating in the markets through the 2000s till now.
Search the Internet for “Bogle” or browse any news source, and you’ll soon be immersed in a universal outpouring of respect for the man. Rightfully so. His lifetime of unblinking commitment to busting open the doors of Wall Street and tearing down its shibboleths is unmatched by anyone else we know.
Reducing costs, avoiding hyperactive trades, insisting on fiduciary, transparent financial care … These may seem obvious today. But it was in large part Bogle who conceived them all, and at times, was ridiculed for doing so. He did not care; he spoke up anyway, every chance he got.
This excerpt from The Philadelphia Inquirer, Bogle’s home-town paper, epitomizes our feelings:
“Jack could have been a multibillionaire on a par with Gates and Buffett,” said William Bernstein, an Oregon investment manager and author of 12 books on finance and economic history. Instead, he turned his company into one owned by its mutual funds, and in turn their investors, “that exists to provide its customers the lowest price. He basically chose to forgo an enormous fortune to do something right for millions of people. I don’t know any other story like it in American business history.”
I was lucky enough to hear John speak twice in Chicago. We actually spent a little time together afterwards discussing a few things that were in his speech. Mr. Bogle was focused, generous and always true to his beliefs. I respect him so much for that.
Here are two of the books from Bogle that truly influenced me:
Bogle On Mutual Funds: New Perspectives For The Intelligent Investor
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns
As we each strive to bring meaning to our own lives, we may sometimes despair over whether we can overcome seemingly enormous challenges.
We can … you can. Bogle’s legacy makes that abundantly clear. Day by day, choice by choice, year after year, each of us accumulates patient, positive steps toward being our ideal self. Each of us matter. Together, we matter the most.
How can we help you achieve your ideals – for you, your loved ones and the world? Please let us know.