John C. Bogle, Founder of Financial Giant Vanguard, Is Dead at 89 [The New York Times]
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Source: The New York Times
John C. Bogle, Founder of Financial Giant Vanguard, Is Dead at 89 - The New York Times Obituaries | John C. Bogle, Founder of Financial Giant Vanguard, Is Dead at 89 Supported by By Edward Wyatt Jan. 16, John C. Bogle, who founded the Vanguard Group of Investment Companies in 1974 and built it into a giant mutual fund company, with $4.9 trillion in assets under management today, died on Wednesday in Bryn Mawr, Pa. He was 89. Vanguard, based in Malvern, Pa., announced his death but gave no cause. Mr. Bogle, who had struggled with a congenital heart defect and had several heart attacks, received a heart transplant in 1996. Mr. Bogle built Vanguard on a cornerstone belief that was anathema to most mutual fund companies: that over the long term, most investment managers cannot outperform the broad market averages. He popularized and became the leading proponent of indexing, the practice of structuring an investment portfolio to mirror the performance of a market yardstick, like the Stand
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