5/17/2023 0 Comments Vanguard integrity pro founderAfter successfully climbing through the ranks, Bogle replaced Morgan as chairman of Wellington in 1970, but was later fired for an "extremely unwise" merger that he had approved. Eventually he succeeded, and the new fund became a turning point in his career. Bogle persuaded the Wellington management to change its strategy of concentration on a single fund and create a new fund. Hired by Morgan at the Wellington Fund, Bogle was promoted to assistant manager in 1955, at which time he was able to analyze the company and its investment department. Bogle very late in his careerĪfter graduating from Princeton, Bogle sought a position in banking or investments. Morgan, founder of the Wellington Fund, reportedly as a result of Morgan reading his 130-page thesis paper. īogle graduated magna cum laude from Princeton in 1951 and was soon hired by Walter L. Bogle spent his junior and senior years working on his thesis "The Economic Role of the Investment Company". During his university years, Bogle studied the mutual fund industry. In 1947, Bogle graduated from Blair Academy cum laude and was accepted at Princeton University, where he studied economics and investment. At Blair, Bogle showed a particular aptitude for mathematics, with numbers and computations fascinating him. Their academic record there enabled them to transfer to Blair Academy on work scholarships. īogle and his twin, David, attended Manasquan High School near the New Jersey shore for a time. They lost their money and had to sell their home, with his father falling into alcoholism, which resulted in his parents' divorce. His family was harmed by the Great Depression. John Bogle was born on May 8, 1929, in Montclair, New Jersey, to William Yates Bogle, Jr. ![]() His 1999 book Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor became a bestseller and is considered a classic within the investment community. The ideal investment vehicle for Bogle was a low-cost index fund held over a lifetime with dividends reinvested and purchased with dollar cost averaging. An avid investor and money manager himself, he preached investment over speculation, long-term patience over short-term action, and reducing broker fees as much as possible. He was the founder and chief executive of The Vanguard Group, and is credited with creating the index fund. John Clifton " Jack" Bogle (– January 16, 2019) was an American investor, business magnate, and philanthropist.
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