Thursday, January 17, 2019

John "Jack" Bogle

...will be missed.

Warren Buffett once explained the significance of Jack Bogle's contribution this way:

"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. For decades, Jack has urged investors to invest in ultra-low-cost index funds. In his crusade, he amassed only a tiny percentage of the wealth that has typically flowed to managers who have promised their investors large rewards while delivering them nothing – or, as in our bet, less than nothing – of added value.

In his early years, Jack was frequently mocked by the investment-management industry. Today, however, he has the satisfaction of knowing that he helped millions of investors realize far better returns on their savings than they otherwise would have earned. He is a hero to them and to me."

Separately, in a tribute to Mr. Bogle, Buffett also said:

"Jack Bogle has probably done more for the American investor than any man in the country. (Applause)

And Jack, would you stand up? There he is." (Applause)

"I estimate that Jack, at a minimum, has saved — left in the pockets of investors, without hurting them overall in terms of performance at all — gross performance — he's put tens and tens and tens of billions into their pockets. And those numbers are going to be hundreds and hundreds of billions over time."

Fortunately, Jack Bogle's wisdom remains available to all in the form of the many interviews, articles, and books he has written over the years.


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