John Bogle died on January 16, 2019. We all know people that helped us succeed, but seldom, if ever, in the history of investing has anyone stood alone as the king of doing what’s right for the common investor like John Bogle. His firm, Vanguard, has close to 5 trillion dollars under investment management. Most of it was built on the philosophy Bogle tirelessly promoted that encouraged low cost index fund investing because most investment managers cannot outperform broad market indexes.
Bogle was first of all that calm voice for many of us in the storm that reassured us to stay the course. Yes, the market is a risky place over the short term, but if you stay the course it is the best place to be.
Second, control what you can, especially paying low costs. Bogle advocated for all of us with sometimes harsh criticism of the investment industrial complex and the unjustified high fees participants charge for the results given.
And third, he was a believer in large diversification. His preferred holdings included the whole stock market. And he gained impressive fans as a result of his advice including Warren Buffett who recognized him at last year’s annual Berkshire Hathaway annual meeting as the man who has done the most for individual investors.
Rest in peace John. We are going to miss you!