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Vanguard's John Bogle dies at 89. Father of the index fund, he brought investing to the masses [View all]
https://www.cnn.com/2019/01/16/investing/john-bogle-obituary/index.html
New York (CNN Business)John Bogle, who created the first index fund in 1975 and founded The Vanguard Group, died Wednesday at the age of 89.
Bogle is legend in the investing world for inventing a low-cost way for individuals to invest in the broad market, and advocating for their interests.
"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," Vanguard CEO Tim Buckley said in a statement. "He was a tremendously intelligent, driven and talented visionary whose ideas completely changed the way we invest. We are honored to continue his legacy of giving every investor 'a fair shake.'"
Vanguard is now the largest investment firm in the world. And index funds account for trillions in assets. One of the largest -- the Vanguard 500 Index Fund -- has more than $440 billion. All Vanguard index funds combined account for more than 70% of the firms nearly $5 trillion in assets, according to the company.
Bogle was revered for his steadfast commitment to the best interest of the investor.
New York (CNN Business)John Bogle, who created the first index fund in 1975 and founded The Vanguard Group, died Wednesday at the age of 89.
Bogle is legend in the investing world for inventing a low-cost way for individuals to invest in the broad market, and advocating for their interests.
"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," Vanguard CEO Tim Buckley said in a statement. "He was a tremendously intelligent, driven and talented visionary whose ideas completely changed the way we invest. We are honored to continue his legacy of giving every investor 'a fair shake.'"
Vanguard is now the largest investment firm in the world. And index funds account for trillions in assets. One of the largest -- the Vanguard 500 Index Fund -- has more than $440 billion. All Vanguard index funds combined account for more than 70% of the firms nearly $5 trillion in assets, according to the company.
Bogle was revered for his steadfast commitment to the best interest of the investor.
Jack Bogle really made investing affordable and accessible to normal people. And as a bonus, the existence of these massive index funds helps add some stability to our whole market.
Full disclosure: My retirement funds are in Vanguard. I'd recommend it to anyone.
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