Inventor of the index fund
By: Legacy Staff
30 days ago
John Bogle (1929 - 2019) was the revolutionary financial professional who founded the Vanguard Group and invented the first index mutual fund. His company thrives today as the leader in the mutual-funds industry, employing over 16,000 people and serving over 20 million investors.
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Died: January 16, 2019 (Who else died on January 16?)
Details of death: Died from cancer in his home in Bryn Mawr, Pennsylvania at the age of 89.
What we’ll remember: John Bogle turned his misfortune of being fired from his first job out of college into an opportunity to create a novel business for investors. His creation of the first index mutual fund allowed investors to more easily manage and grow their assets with minimal risk. Mr. Bogle also contributed to civic and educational organizations—among others, he established the Bogle Brothers Scholarship Fund, which has currently funded the schooling of almost 200 students.
Memorable quote: “Whatever moral standards I may have developed over my long life, I have tried to invest my own soul and spirit in the character of the little firm that I founded all those years ago.”
What people said about him: "Jack did more for American investors as a whole than any individual I've known." —Warren Buffett
Full obituary: Philadelphia Inquirer
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