John Bogle has changed a basic industry in the optimal direction, the Nobel laureate Paul A. Samuelson wrote in a foreword to Mr. Bogles book Bogle on Mutual Funds, published in 1993. Were never allowed to use the word product, he told an interviewer in 1995. See Photos. There, Mr. Bogle ordered his customary breakfast of two eggs over easy, fried potatoes, two slices of rye toast and coffee, all of which he consumed, Stengel recalled, in an incredibly systematic way. In short order, Morgan became Mr. Bogles mentor. He cared enough about his clients to personally answer their letters; he cared enough about his employees to be on a first-name basis with thousands of them, and to pitch in at the phone banks when things got busy; and in the end, he cared enough about his country that he spent much of his last two decades away from home tirelessly crusading against an increasingly elephantine and dysfunctional financial system.. Bogle was active in the investment industry. . Ridiculed by others in the industry as "un-American" and "a sure path to mediocrity," the fund collected a mere $11 million during its initial underwriting. Lives in Hutchinson, Kansas . He received honorary degrees from a dozen universities, including his alma mater, which also bestowed on him its highest accolade, the Woodrow Wilson Award, for distinguished achievement in the nations service.. Along the way, Vanguard, which Mr. Bogle launched in 1974, became a titan in the financial-services industry, with 16,600 employees and over $5 trillion in assets by the end of 2018, and Mr. Bogle earned a reputation as not only an investing sage but a maverick whose integrity and old-fashioned values set an example that many admired and few could match. Press Clippings. Mr. Bogle married Eve Sherrerd in 1956. Bill Falloon, an editor at John Wiley & Sons, remembers when Mr. Bogle visited the publishers Park Avenue office for a marketing strategy meeting about Mr. Bogles The Little Book of Common Sense Investing. Even as he became more prominent, he did not change within the family. The Vanguard Experiment was designed to prove that mutual funds could operate independently, and do so in a manner that would directly benefit their shareholders. Mr. Bogle is survived by his wife Eve, daughters Barbara Bogle Renninger (Scott), Jean Bogle, Nancy Bogle St John (Gordon), and Sandra Bogle Marucci (Buddy), sons John Clifton Bogle Jr . Mr. Bogle served on the board of the Investment Company Institute, a mutual fund trade group, from 1969 to 1974, and as its chairman from 1969 to 1970. Ian Mclellan. Reflections on Investment Illusions, Capitalism, "Mutual" Funds, Indexing, Entrepreneurship, Idealism, and Heroes (2011); The Clash of the Cultures: Investment vs. Most fund companies spend huge sums to attract new customers. Mr. Bogles net worth was generally estimated at $80 million last year. He was literally reborn, and he really appreciated the chance of having a second go at life.. To describe his new venture, Mr. Bogle coined the term "The Vanguard Experiment." . He was the author of at least 10 books, mainly about investing all of which he proudly wrote himself. He was a trustee for the American Indian College Fund and The American College. It costs $1,780 per month to rent two bedrooms in the zip code 19096, according to HUD's Office of Policy Development and . A June wedding is planned. For six go-go years, the partnership flourished, but when stock prices plunged in 1974, Mr. Bogle was fired. We are honored to continue his legacy of giving every investor 'a fair shake.'". I thought there would be an exception for the companys founder, he said in 2012. Mr. Bogle graduated from Blair Academy in Blairstown, N.J., and, in 1951, from Princeton; he was a scholarship student at both. Bogle a Montclair, New Jersey native launched Vanguard on May 1, 1975. There was no bed or couch, he was informed. I wanted to send a message that our battle-hardened Vanguard Group would be victorious in the mutual fund wars, Bogle wrote in Enough, and that our vanguard would be, as the dictionary says, the leader in a new trend. . He served as the first chairman of the board of trustees and chairman emeritus for the National Constitution Center. He was 89. In the last three years of the 1990s, Vanguard received more new money from investors than the next three largest fund companies combined. Did you mean: barbara bogle. When he had the heart transplant, it changed him dramatically. Mr. Bogles children recalled growing up in a drafty house in Haverford where the thermostat was set low in winter and they piled into their parents bedroom on steamy summer nights because it was the only spot with an air conditioner. Mr. Bogle was proud of the many jobs he held in his youth newspaper delivery boy, waiter, ticket seller, mail clerk, cub reporter, runner for a brokerage house, pinsetter in a bowling alley. Learn how your comment data is processed. His reputation as a tightwad was well earned. For his pioneering of the index concept for individual investors, Mr. Bogle was often called the "father of indexing.". Vanguard CEO Tim Buckley. A private service will be held next week. From there, he went to Princeton, which offered him a full scholarship and a job waiting tables in the dining hall. Eve Bogle: Children: Yes (Sandra Bogle Marucci, Jean Bogle, Nancy Moore Bogle, Andrew Armstrong Bogle, Barbara Bogle Renninger, John Bogle Jr.) Dating/Girlfriend (Name): N/A: Profession: Investor, business magnate, and philanthropist: Net Worth in 2023: $85 million: Last Updated: February 2023 John Clifton Bogle was born in Montclair, N.J., on May 8, 1929. Andrew has the phone number (610) 649-0638 (Verizon Pennsylvania, Inc). Nevertheless, Mr. Bogle, to use a pet phrase, pressed on regardless. After retiring as Vanguard's chairman and CEO in 1996 and its senior chairman in 2000, he became president of the Bogle Financial Markets Research Center, quartered in the Victory Building on the Vanguard campus. At Blair, Mr. Bogle chaired the board of trustees, chose the headmaster, and helped finance the construction of several buildings. His daughter Barbara Bogle Renninger served on the board of the Gesu School in North Philadelphia, where she was also a volunteer math tutor; his son Andrew was a patron of Robin Hood, a philanthropic organization established by investment bankers and hedge-fund managers to alleviate poverty in New York City. Mr. Bogle, a resident of Bryn Mawr, PA, began his career in 1951 after graduating magna cum laude in economics from Princeton University. A true giant of the industry, Bogle was virtually the creator of index mutual funds and ETFs, and passive investing in general. He was also a fellow of the American Philosophical Society and the American Academy of Arts and Sciences. A tall, athletic man who sported a crew cut for most of his life, Mr. Bogle played squash, tennis, and golf, and also enjoyed sailing. Another institution that benefited tremendously from Mr. Bogles involvement was the Constitution Center, whose board he chaired from 1999 to 2007. He was the author of at least 10 books, mainly about investing all of which he proudly wrote himself. Everything else pales by comparison. In December 1949, while leafing through Fortune, he happened upon an article about the embryonic mutual-fund industry, and Mr. Bogle developed the topic for his senior thesis. In addition to his son and daughter, Mr. Bogle is survived by his wife, the former Eve Sherrerd, whom he married in 1956; children Jeanne Bogle England, Nancy Bogle St. John, Sandra Hipkins Bogle, and John C. Bogle Jr.; and at least 12 grandchildren. They had 12 . She survives him, as do a brother, William Yates Bogle III; four daughters, Barbara Bogle Renninger, Jean Bogle, Nancy Bogle St. John and Sandra Bogle Marucci; two sons, John Jr. and Andrew; 12 grandchildren; and six great-grandchildren. For six go-go years, the partnership flourished, but when stock prices plunged in 1974, Mr. Bogle was fired. He was like a surrogate father to me, said former headmaster Chan Hardwick. VALLEY FORGE, Pa., Jan. 16, 2019 /PRNewswire/ -- Vanguard announces the passing of John Clifton Bogle, founder of The Vanguard Group, who died today in Bryn Mawr, Pennsylvania. erelman, the master deal-maker and philanthropist who gave away more than $300 million to the University of Pennsylvania and other causes, died Monday at his home in Philadelphia. In a lot of ways, the last decade, an extra decade of my life, has been the happiest of my life, Mr. Bogle said in 2008. Another family rite revolved around the Fourth of July, a holiday that evoked Mr. Bogles strong sense of patriotism. Most observers expect that the share of corporate ownership by index funds will continue to grow over the next decade. A few months later, he was back in the office, writing and speaking about issues of importance to mutual fund investors. At Blair and Princeton, Bogle endowed the Bogle Brothers Scholarships, which enabled scores of budding scholars to further their education. This was a theme for Mr. Bogle and his successors: Vanguard is known today for maintaining investment costs among the lowest in the industry. Mr. Bogle is survived by his wife Eve, daughters Barbara Bogle Renninger (Scott), Jean Bogle, Nancy Bogle St John (Gordon), and Sandra Bogle Marucci (Buddy), sons John Clifton Bogle Jr . 3. Mr. Bogle is survived by his wife Eve, daughters Barbara Bogle Renninger (Scott), Jean . Six persons, including Barbara Bogle, Scott D Renninger, Andrew Renninger, Barbara B Renninger, Christina Renninger, Rebecca M Renninger, listed the phone number (610) 649-0638 as their own, various documents indicated. In Honor of John Jack BOGLEThe MAN who opened financial markets for ordinary people. Mr. Bogle had long argued that a mutual fund representing a broad range of businesses for instance, the Standard & Poors 500, an index containing the stocks of 500 large publicly held U.S. companies would not only match the markets average return but also generally surpass the performance of actively managed funds. Mr. Bogle argued that Vanguard funds were thus completely independent of their advisers and operated solely in the interests of shareholders able to monitor investment results objectively, negotiate advisory fees at arms length and change advisers if need be. Im contributing to society. Future industry growth can be maximized by a reduction of sales loads and management fees.. At Blair, Mr. Bogle chaired the board of trustees, chose the headmaster, and helped finance the construction of several buildings. I dont think theres an author who spent greater care on the words he chose, said Falloon, the Wiley editor who worked with Mr. Bogle. In his 70s, he displayed the energy of men half his age, and his pace and ambition were the more remarkable because of his lifelong battle with heart disease, the result of a congenital defect that affected the hearts electrical current. But he applied himself and slowly mastered the demands. Looking back now, I find it remarkable that he was able to work as hard as he did but still say, This is a priority and what Im going to do be home every night.. In January 1996, Mr. Bogle passed the reins of Vanguard to his hand-picked successor, John J. Brennan, who joined the company in 1982 as Mr. Bogle's assistant. His twin brother David died in 1995. He was a true American hero.. Mutual fund companies, he said, were all but immoral for accepting such fees. They sang patriotic songs (Lee Greenwoods God Bless the USA was a favorite), and Mr. Bogle raised a toast to the country of which he was so proud. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. The second best result is Barbara A Renninger age 70s in Lewistown, PA. Mr. Bogle had long argued that a mutual fund representing a broad range of businesses for instance, the Standard & Poors 500, an index containing the stocks of 500 large publicly held U.S. companies would not only match the markets average return but also generally surpass the performance of actively managed funds. He remained a man without pretense and pomposity. Most recently, he published Stay the Course: The Story of Vanguard and the Index Revolution (Wiley, 2018). Im writing what I want and saying what I want, and I think my name and reputation, for whatever thats worth, have been enhanced.. His daughter Barbara Bogle Renninger served on the board of the Gesu School in North Philadelphia, where she was also a volunteer math tutor; his son Andrew was a patron of Robin Hood, a philanthropic organization established by investment bankers and hedge-fund managers to alleviate poverty in New York City. Are you looking for someone named as Dennis Bogle? Mr. Bogle produced a scholarly opus that proved to be a blueprint for his career. Mr. Bogle was named president of Wellington in 1967, and soon thereafter it merged with the Boston investment company Thorndike, Doran, Paine & Lewis. Mr. Bogle especially loved to write. Jan 16, 2019 jcbadmin. The following month, Mr. Bogle underwent heart transplant surgery. Im writing what I want and saying what I want, and I think my name and reputation, for whatever thats worth, have been enhanced.. Mr. Bogle regularly gave half his salary to charities. Three index fund managers dominate the field with a collective 81 percent share of index fund assets: Vanguard has a 51 percent share; BlackRock 21 percent; and State Street Global 9 percent. Indexing was the purview of institutional investors, but Jack Bogle came up with the consumer version, said Daniel P. Wiener, the editor of The Independent Adviser for Vanguard Investors, a newsletter and website that has tracked the company for decades. Liquidity Factor ETF will be liquidated in late November. That he was correct in calling them the croupiers at the gambling table did not endear him to the profession., Simply put, Jack cared, said William Bernstein. The Bogles lost their home and were forced to move in with relatives. Your email address will not be published. Im doing what I want to do. We hope you will join us! Open to all tips: earvedlund@inquirer.com. I dont know any other story like it in American business history.. 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. He was 89. . At breakfast with a reporter in 1993, at a suburban Philadelphia restaurant near Vanguards headquarters, Mr. Bogle figured out that he would beat the $5.95 cost of the buffet by ordering from the menu. If he had an early-morning meeting in New York, he would take the early Amtrak Metroliner shuttle rather than pay for a hotel room in Manhattan. Mr. Bogle characterized his pugnacious relationship with the financial industry as a lovers quarrel. His mission, he said, was simple: to return capitalism, finance, and fund management to their roots in stewardship.

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