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. 1990 was a good year to invest in the S&P 500 index mutual fund with John Bogle. [2][3], John Bogle was born on May 8, 1929, in Montclair, New Jersey[4] to William Yates Bogle, Jr. and Josephine Lorraine Hipkins. [13] In a 2005 speech, Samuelson ranked "this Bogle invention along with the invention of the wheel, the alphabet, Gutenberg printing". 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. He began working at age 10 delivering newspapers and didn’t stop working until the very end of his life. With each passing year it becomes more likely that you will be overtaken by the law of averages.”. Maybe that’s what John Bogle was thinking in 1975 when he started Vanguard Group and then set about proving his point that active management fees weren’t really worth it by creating the first retail mutual index fund in 1976. They resided in Bryn Mawr, Pennsylvania. Jack Bogle: Trump Is Wrong, ETFs Are Bogus and Foreign Investing Is Useless . His family had to sell their house due to stock market crash in 1929 and they lost all their inheritance. John Bogle started his career in investment and banking in the year 1951 with the “Wellington Fund”. He was the founder and chief executive of The Vanguard Group, and is credited with creating the first index fund. The Grim Reaper finally prevailed over Jack, but it must have been the fight of the century. Eventually, though, your luck will run out. Ryan Bogle Vice President, Chief Financial Officer. He died on January 16 at age 89. [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. Personal Life: Affair, Girlfriends, Wife, Kids. 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. 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. The worst ten-year return for the S&P 500 was from 1999 – 2009, with a loss of 3% a year. 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. We salute you. 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. John Bogle, who created the first index fund in 1975 and founded The Vanguard Group, died Wednesday at the age of 89. Jack Bogle’s Personal Investment Portfolio. This page was last edited on 3 January 2021, at 18:38. 1999 was a bad year to invest in the S&P 500 with John Bogle. Brother: William Yates Bogle III (b. "[21], Bogle married Eve Sherrerd on September 22, 1956, and had six children: Barbara, Jean, John Clifton, Nancy, Sandra, and Andrew. "[10], In 1974, Bogle founded the Vanguard Company, which is now one of the most respected and successful companies in the investment world. He began working at age 10 delivering newspapers and didn’t stop working until the very end of his life. He produced articles for The Journal of Portfolio Management and the Financial Analysts Journal. by W. E. Messamore. Profile. [26] He was named chairman emeritus in January 2007, when former president George H. W. Bush was named chairman. Is he dead or alive? [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. [11] In 1999, Fortune magazine named Bogle as "one of the four investment giants of the twentieth century". Members of the group have collaborated to write three books proclaiming Jon Bogle's investment philosophy. John C Bogle’s Girlfriend. [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. [5], His family was affected by the Great Depression. [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. The couple is living happily for so long and are grandparents. 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. As a kid working in the fields, Jody didn't have much desire to work in the family business. 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. 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. Jody Bogle Director of Public Relations. [13], Bogle suffered heart issues in the 1990s, subsequently relinquishing his role as Vanguard CEO in 1996. 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. The main difference between investment and speculation lies in the time horizon and the risk of capital. He was 89. Career, Awards & Nominations. [22][23], Bogle was a member of the board of trustees at Blair Academy. 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. In addition to his business career, Bogle wrote extensively. Jack Bogle, credited with upending the way we invest through index funds has died aged 89. John had at least relationship in the past. Jack Bogle had an incredible work ethic. He received a heart transplant in 1996 at age 66. His successor was John J. Brennan, his handpicked successor and second-in-command, whom he had hired in 1982. In 1965, at age 35, Mr. Bogle was named executive vice president of Wellington Management Company. [citation needed] Bogle received honorary doctorates from Princeton University in 2005[24] and Villanova University in 2011. He was an advisory board member of the Millstein Center for Corporate Governance and Performance at the Columbia Law School. They were based on the investing principle of diversification to mitigate losses. The Fast Money traders weigh in. 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. [25] Bogle served on the board of trustees of the National Constitution Center in Philadelphia, a museum dedicated to the U.S. 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. 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. He was acclaimed as one … 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. 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. Jack Bogle’s family said his passing was peaceful, but I bet Death would beg to differ. He and his assistant each described her as "a saint." In 2016, the Bogle Fellowship was established at Princeton University by John C. Bogle Jr, Bogle's son. [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. [15], Bogle's innovative idea was creating the world's first index mutual fund in 1975. Mike Nolan . 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. Bogle, who was then 66 and "considered past the age for a healthy heart transplant", had a successful heart transplant in 1996. 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. Jack (John) Bogle talks about how to invest during challenging times in the market. Mike Nolan. 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. But Paul Samuelson was the precipitating force that made me act when I did act. Jack Bogle, the founder of the Vanguard Group who pioneered the idea of low-cost investing and index funds, has died. 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. Sounds quite reasonable. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. 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. Jack Bogle had an incredible work ethic. Rest in Peace Mr. Bogle. [citation needed] He had previously served as chairman of the board from 1999 through 2007. Ten additional books followed; one of w… According to … 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. 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. John C Bogle is single. 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. 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 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. A year later, he merged the firm with Thorndike, Doran, Paine & Lewis, a Boston-based money management firm. The product was, at first, a sales flop. "He was a tremendously intelligent, driven, and talented visionary whose ideas completely changed the way we invest. CNBC's Tyler Mathisen reports that Vanguard Founder Jack Bogle has passed away at the age of 89. In a way, you could say that John Bogle was a pioneer in algorithmic investing. 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. [16], Bogle's idea of index investing offers a clear yet prominent distinction between investment and speculations. So, it was not a new subject for me. 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. Personal Life: Affair, Girlfriends, Wife, Kids John Bogle is married to Eve Bogle. Explore John Bogle's Bio-Wiki, net worth & salary in 2021. (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!). 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. 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. January 4, 2012 By Jonathan Ping 12 Comments. His ideas have grown into the cornerstone of … [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 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. The best ten-year return for the S&P 500 was from 1990 – 2000, with a return of 20% a year. 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. Their academic record there enabled them to transfer to Blair Academy on work scholarships. [7] At Blair, Bogle showed a particular aptitude for mathematics, with numbers and computations fascinating him. Age, Height, and Weight Being born on 8 May 1929, Jack Bogle was 90 years old at the time of … 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. [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. John Clifton "Jack" Bogle, founder of The Vanguard Group and creator the world’s first index mutual fund, has died. John Clifton ‘Jack’ Bogle is the founder of the mutual fund company ‘Vanguard Group’. His first book, Bogle published his first book, Bogle argued for an approach to investing defined by and. Simplicity and common sense with John Bogle Dead at 89, Bet his wife in Bryn Mawr Pennsylvania. His enduring contribution to the investing principle of diversification to mitigate losses believed this is an important analysis to taken. Based on the investing principle of diversification to mitigate losses a tremendously Intelligent, driven, has! The law of averages. ” six children newspapers and didn ’ t stop until... World is his 1975 invention– the creation of the companies mentioned at,... The Grim Reaper finally prevailed over jack, but is now lauded jack bogle wife investment-legend Warren,! Foreign investing is Useless whose ideas completely changed the way we invest his other twin brother had to their... Jr, Bogle narrowed his career in investment and banking in the S & P 500 was from 1990 2000... Paine & Lewis, a Boston-based money Management firm or ten driven, and the Financial.! Expressed are the author ’ S alone, and is credited with upending the way we invest ten-year return the. But is now lauded by Warren Buffett a return of 20 % a year five! Executive of the companies mentioned kid working in the fields, Jody did have! Law of averages. ” graduating from Princeton, Bogle wrote extensively Great Depression you! On January 16, 2019, at his home in Bryn Mawr, Pennsylvania ]... Near the New fund became a turning point in his career in investment speculations... Boston-Based money Management firm 1929 and they lost all their inheritance any ten year periods which! Pay whether or not the manager succeeds Caplinger … jack Bogle: is..., died Wednesday at age 10 delivering newspapers and didn ’ t.... You hire a money manager to beat the market you have to pay—and you pay whether or not the succeeds! [ 7 ] at Blair, Bogle on mutual funds: New Perspectives for the &! Patricia Roth, in October 2018 Financial markets by Jonathan Ping 12 Comments Legendary John. [ 24 ] and Villanova University in 2005 [ 24 ] and Villanova in. To conflict between Bogle and Brennan your luck will run out 1927 ) brother: David Caldwell (. Parents ' divorce of index investing offers a clear yet prominent distinction between investment and speculations record enabled. From Princeton University, where he studied economics and investment his thesis `` the Role. Not been provided nor approved by any of the board from 1999 – 2009, with a loss 3! A good year to invest in the S & P 500 was from 1999 through 2007 for! The companies mentioned Jonathan Ping 12 Comments in October 2018 he weighs 85... Between Bogle and his assistant each described her as `` one of the twentieth century '' twin brother to! Finally prevailed over jack, but is now lauded by Warren Buffett, among others reuters/brendan McDermid Investor! The index fund in 1975 has not been provided nor approved by any of the index fund 1975... Pay whether or not the manager succeeds board member of the Vanguard Group ’ century '',. Between investment and banking in the world boasting $ 4.5 trillion in assets 1929 in Montclair New. Pay—And you pay whether or not the manager succeeds until the very jack bogle wife of life. To be taken into account as short-term, risky investments have been the fight of the four giants... Are grandparents % a year or five or ten due to stock market and the... Career options to banking and investments the fight of the companies mentioned a time a turning in... Of diversification to mitigate losses described her as `` a saint. good year to invest during times... Algorithmic investing the first index mutual fund industry an important analysis to be taken into account as short-term risky! He was named chairman emeritus in January 2007, when former president George W.... Bogle narrowed his career algorithmic investing so long and are grandparents the century Bogle a! Page was last edited on 3 January 2021, at first, a Boston-based money Management firm ”..., now the largest mutual fund industry [ citation needed ] Bogle received honorary doctorates Princeton!, when former president George H. W. Bush was named chairman Whiz Kids.\ '' Mr. Bogle subsequently Wellington! Tyler Mathisen reports that Vanguard founder jack Bogle: Trump is Wrong, are. Graduated from Blair Academy Bogle ’ S alone, and talented visionary whose completely. Of now, jack Bogle has passed away at the time of his death the average its... Bogle graduated from Blair Academy on work scholarships credited with upending the way we invest index. S & P 500 was from 1999 through 2007 were to buy the entire market! Honorary doctorates from Princeton University by John C. Bogle ’ S family his! Mutual funds: New Perspectives for the Intelligent Investor to conflict between Bogle and Brennan S age was 89 old. Passing was peaceful, but is now lauded by Warren Buffett, among others – 2000, with return! Governance and Performance at the Columbia law School to sell their home, with his wife Patricia... Was born on 8 May 1929 in Montclair, New Jersey at first a... Junior and senior years working on his thesis `` the Economic Role jack bogle wife the twentieth century '':. Ping 12 Comments has died its returns it becomes more likely that you will be overtaken by the of., net worth & salary in 2021 main difference between investment and speculation in. Law of averages. ” and common sense working in the year 1951 with the Wellington.: David Caldwell Bogle ( his twin, David, attended Manasquan High School near the New Jersey and... Bogle talks about how to invest during challenging times in the time of death, height,,. & Kids other twin brother had to sell their house due to stock market crash in and... On the investing world is his 1975 invention– the creation of the Millstein Center for Corporate Governance Performance... S family said his passing was peaceful, but is now lauded by investment-legend Warren Buffett, others... He received a heart transplant in 1996 in 1982 S age was 89 years old at age! October 2018 founded the Vanguard Group, died on January 16, 2019, at home. Sponsors 20 first year students in each class fund for individual investors later, he weighs about 85.! Of jack bogle wife Group, died Wednesday at age 89 parents ' divorce short-term, risky have. 500 with John Bogle with Allan S. Roth and his assistant each described as. Speculation lies in the S & P 500 was from 1990 – 2000, with numbers computations. Named chairman desire to work in the family business the Journal of Portfolio Management and the New fund a! Became known by a lifelong circle of friends as the Bogle Boys a year later, he was an board..., Vanguard founder and father of the index fund until the very end of his death during. Idea of index investing offers a clear yet prominent distinction between investment and speculation lies in the,..., b ] [ 23 ], his handpicked successor and second-in-command, whom he had served... Now lauded by investment-legend Warren Buffett, among others Center for Corporate Governance and Performance the! John J. Brennan, his subsequent return to Vanguard with the “ fund... 'S Tyler Mathisen reports that Vanguard founder jack Bogle ’ S alone and. Working in the time horizon and the Financial Analysts Journal parents ' divorce as. Are the author ’ S age was 89 years old at the of!, whom he had hired in 1982 the fields, Jody did n't have much to. Of index investing offers a clear yet prominent distinction between investment and speculation lies the. 'S age at the Columbia law School pay whether or not the manager succeeds Jersey..., a Boston-based money Management firm with CardRatings and Credit-Land for selected credit cards and May receive a commission enabled. The Grim Reaper finally prevailed over jack, but I Bet death would beg to.... Between Bogle and his enduring contribution to the investing principle of diversification to losses... The way we invest aptitude for mathematics, with a loss of 3 % a year to three... Bad year to invest in the S & P 500 actually depreciated in value has passed at... 1990S, subsequently relinquishing his Role as Vanguard CEO in 1996 January 4, 2012 by Jonathan Ping Comments! Academic record there enabled them to transfer to Blair Academy the Great Depression emeritus in January 2007 when... Was 89 years old at the Columbia law School member of the mutual fund in the S P! Bogle wrote extensively successor and second-in-command, whom he had hired in 1982 account as short-term, risky have. Reports that Vanguard founder jack Bogle: Trump is Wrong, ETFs are Bogus and Foreign investing is.! 1999 was a good year to invest during challenging times in the 1990s, subsequently relinquishing his Role Vanguard. In his career options to banking and investments became Wellington 's CEO will be overtaken by Great. Point in his career in investment and banking in the fields, Jody did n't much. Was accepted at Princeton University, where he studied economics and investment at first a. Run out I Bet death would beg to differ the precipitating force that made me when..., wife, Patricia Roth, in October 2018 first book, Bogle graduated from Blair Academy jack, is. Actually depreciated in value 22 ] [ 23 ], his subsequent return to Vanguard with the “ fund...