We lost a true legend yesterday in Jack Bogle.
Jack was founder and retired CEO of Vanguard Group, which now has $5.1 trillion in assets under management.
He also created the world’s first index fund, enabling investors to achieve high returns at lower costs than for actively managed funds.
His funds are so wildly successful he once said it’s probably only a matter of time before Vanguard owns half of all U.S. stocks, which would not serve the national interest. Let that sink in.
By creating the world’s first index fund and preaching a buy and hold strategy Jack helped millions of people achieve a better financial future.
“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.” – Warren Buffet