Vanguard
Jack Bogle was a champion of thrift, simplicity, and keeping investing costs low. While he reached the popularity level where people would write entire columns about “Why Bogle is Wrong about This or That”, I was always annoyed when people would pick at one little thing he said. I felt that his strongest message was that of common sense. Sometimes it took multiple readings and time, but he really offered a lot of valuable, reasoned knowledge in his books. Almost exactly a year ago, I wrote about my
My first mutual fund investment was in the Janus Mercury fund in the very early 2000s. I was chasing performance and Morningstar ratings, and the fund was actively managed with high turnover and high expenses. Thanks to reading his books, my subsequent investments were in low-cost Vanguard funds that were available to a DIY investor. You can now buy ultra-cheap commission-free ETFs from nearly every brokerage account. New investors may take this for granted, but I’m old enough to remember that this was not always the case! This was solely due to
He created a unique structure where the
Today, my family is financially secure and we have a pretty clear plan for the future as well. The majority of my net worth is held at Vanguard. My life was materially improved by a man that I never got the honor to meet. The best I could do was to win a personally-signed book from a charity auction for his foundation.
Thank you, Mr. Bogle. I will try my best to heed your advice.
p.s. If you do not know that I am talking about, please do yourself a favor and read
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