MIB Jack Bogle Changed Finance

Perhaps more than any person in the modern era of finance, Jack Bogle changed the course of investing history. He did it with a relentless focus on saving costs and putting his investors returns ahead of his own.

In this week’s Masters in Business podcast, we revisit our 2016 conversation with the creator of the index fund, founder (and first CEO) of the Vanguard Group, and all around investing legend.

My remembrance of Bogle is here; my column explaining why he was so important to finance is here.

Bogle regales us with fascinating stories, including Vanguard’s origin tale. He tells of getting fired as Chairman of the Wellington Funds dues to a disastrous merger. Somehow, he finagled a role within the asset management group running what he describes as Wellington’s “unmanaged” funds — i.e., the first equity index fund.

He named the new management company for the HMS Vanguard, flying Rear Admiral Sir Horatio Nelson’s flag. He discusses Wall Street’s initial response to index funds, explains why no one ever really decided to compete with Vanguard, and holds a master class on the proper way to invest. Bogle later created the first bond index fund.

His favorite books are here; our transcript is posted here;

You can stream the full podcast at Apple iTunesOvercastBloombergStitcher. Our earlier podcasts can all be downloaded at iTunesStitcherOvercast, and Bloomberg.

Next week, we speak with restaurateur Cameron Mitchell, founder and CEO of Cameron Mitchell Restaurants, which manages numerous restaurants across the country, and is the author Yes is the Answer! What is the Question?.

 

 

 

 

 

 

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