John C. Bogle died at age 89 on January 16, 2019. John Bogle was often called Jack Bogle and he founded the Vanguard Investment Company in 1974 and built it into a giant mutual fund company that is estimated to have assets in excess of $5 Trillion today.
Jack built Vanguard on the belief that over the long term most mutual fund managers can not outperform the basic stock market averages. Jack popularized the concept of indexing, which is the practice of structuring an investment to mirror the performance of a major market average like the S&P 500.
Whenever a young person asks my advice about how he/she should handle their money, my answer is always the same. First, I suggest that they invest in themselves by obtaining a college degree or some college courses. Second, I suggest that they work in the ” real world” for at least one year. Then my last and final suggestion is to read and study all of the books written by John Bogle.
I am a great admirer of the writings of Jack Bogle. His ideas are clearly expressed and he never attempted to promote his own Machiavellian self interests at the expense of investors. He received numerous awards for his work in the financial field. Today there is a group of people who follow Bogle’s ideas and they refer to themselves as Bogleheads.
R. Van Conoley