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Monday, August 13, 2012

Bogle Just Keeps Going

News summary by MFWire's editors

Jack Bogle, 83, Vanguard [profile] founder, says he is not done yet in a profile from Saturday's New York Times.

Vanguard is now an industry standard and Bogle says "it's really nice that I'm able to see this happen in my own lifetime."

Though the market outlook might be dark, Bogle says investors should "stay the course."

He still backs long-term, low-cost investing. He says:
In investing, you get what you donít pay for. Costs matter. So intelligent investors will use low-cost index funds to build a diversified portfolio of stocks and bonds, and they will stay the course. And they wonít be foolish enough to think that they can consistently outsmart the market.
Bogle is proud of the company he founded, though he sometimes finds himself in disagreement with current Vanguard management.

He now works at the Vanguard campus as head of the Bogle Financial Markets Research Center.

Bogle also opposed Vanguard offering ETFs, but today he says that other ETFs, such as those that mimic Vanguard index funds, are fine but should be carefully used.

Though Bogle is no longer part of Vanguard's board, his words live on: "Like a rock", "even one person can make a difference", "we lead" and his favorite, "stay the course."  

Edited by: HFD


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