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.
Jack Bogles Favorite Books
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
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
The Clash of the Cultures: Investment vs. Speculation by John Bogle
John Bogle on Investing: The First 50 Years by John Bogle
The John C. Bogle Reader by John Bogle