In our latest Masters in Business podcast, we revisit our conversation with investing legend with Jack Bogle, founder of the $5.3 trillion dollar Vanguard Group, creator of the index fund, and all around investing legend.
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.
Most of the time in our MIB interviews, our team prepares by doing deep research, creating a list of topics and questions to guide the conversation. Bogle is a force of nature, and you can hear me struggle for a while trying to work stay with my game plan, before making the audible call to simply enjoy chatting with one of the most legendary personalities in all of finance.
His favorite books are here; our transcript is posted here; my remembrances of Bogle the man is here; my column explaining why he was so important to finance is here.
You can stream the full podcast bel0w, or download it on Apple iTunes, Overcast & Bloomberg, Stitcher. Our earlier podcasts can all be found at iTunes, Stitcher, Overcast, and Bloomberg.
Jack Bogles Favorite Books
The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel by Benjamin Graham
A Random Walk down Wall Street: The Time-tested Strategy for Successful Investing by Burton Malkiel
Unconventional Success: A Fundamental Approach to Personal Investment by David Swensen
The Four Pillars of Investing: Lessons for Building a Winning Portfolio by William Bernstein
Against the Gods: The Remarkable Story of Risk by Peter Bernstein
Books written by Jack Bogles
Bogle On Mutual Funds: New Perspectives For The Intelligent Investor by John Bogle
Character Counts : The Creation and Building of the Vanguard Group by John Bogle
The Battle for the Soul of Capitalism by John Bogle
Common Sense on Mutual Funds by John Bogle
Enough: True Measures of Money, Business, and Life by John Bogle
Stay the Course: The Story of Vanguard and the Index Revolution by John Bogle
The Clash of the Cultures: Investment vs. Speculation by John Bogle
John Bogle on Investing: The First 50 Years by John Bogle
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns by John Bogle
The John C. Bogle Reader by John Bogle
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