Creator Of 'Index' Mutual Funds Dies

Jack Bogle was chairman of the board of the National Constitution Center in 2006 when he stood beside one of his favorites, Alexander Hamilton, far left. Source: Michael S. Wirtz /Philadelphia Inquirer File Photo

This is a sad news for fans of index mutual funds. Jack Bogle, creator of the index fund and founder of Vanguard Group, has died at age 89 on January 16.

"Bogle helped bring investing to the masses through his creation of the index fund and founding of the no-nonsense, low-fee investing firm Vanguard Group. He preached a philosophy of steady investing and avoidance of market timing,"  said CNBC

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Mr. Bogle lived in the suburbs of Philadelphia. In an obituary, the Philadelphia Inquirer said that Mr. Bogle "revolutionized the way Americans save for the future, championed the interests of the small investor, and railed against corporate greed and the excesses of Wall Street."  He "pioneered low-cost, low-fee investing and mutual funds tied to stock-market indexes. These innovations, reviled and ridiculed at first, enabled millions of ordinary Americans to build wealth to buy a home, pay for college, and retire comfortably."
Warren Buffet long admired Jack Bogle, saying in 2017: ""If a statue is ever erected to honor the person who has done the most for American investors, the hands down choice should be Jack Bogle." 

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POSTED: 01.17.2019 

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