Fortune magazine designated him one of the investment industry's four "Giants of the 20th Century" in 1999. They had 12 . Instead, he turned his company into one owned by its mutual funds, and in turn their investors, "that exists to provide its customers the lowest price. Jack could have been a multibillionaire on a par with Gates and Buffett, said William Bernstein, an Oregon investment manager and author of 12 books on finance and economic history. Mr. Bogles retirement did not come easily. Raymond G. Perelman, the master deal-maker and philanthropist who gave away more than $300 million to the University of Pennsylvania and other causes, died Monday at his home in Philadelphia. So he walked into this little office and pushed a chair over so its back was on the floor, Falloon recalls. So intelligent investors will use low-cost index funds to build a diversified portfolio of stocks and bonds, and they will stay the course. He wrote articles, speeches, and books, answered questions from investors, granted interviews to reporters, and continued to cultivate and encourage members of Vanguards crew while keeping a three-person staff busy. Mr. Bogle, a chipper and unpretentious man who invited everyone to call him Jack, was founder and for many years chairman of the Vanguard Group, the Malvern-based mutual-fund company, where he pioneered low-cost, low-fee investing and mutual funds tied to stock-market indexes. The firm, headquartered in Valley Forge, Pennsylvania, offers more than 413 funds to its more than 20 million investors worldwide. John C. Bogle, who founded the Vanguard Group of Investment Companies in 1974 and built it into a giant mutual fund company, with $4.9 trillion in assets under management today, died on Wednesday at his home in Bryn Mawr, Pa. Mr. Bogle married Eve Sherrerd in 1956. While Mr. Bogle was facile with numbers, he was much less interested in counting than in what counts, and his intellectual range was broad. Refusing to surrender, Mr. Bogle persuaded the board of Wellington to split from the management company that canned him and appoint him to administer the funds at cost, thereby saving a bundle in fees. Check out their phone numbers, address, and other contact details here. What impressed me most about Jack was his humility and approachability, said Mel Lindauer, a leader of the Bogleheads and coauthor of The Bogleheads Guide to Investing. Mr. Bogle was treated for arrythmogenic right ventricular dysplasia, a congenital heart defect, for more than 30 years, and had at least six heart attacks, the first in 1960. It declared to the outside world that we were national and bipartisan, and aspired to the highest level of excellence., Mr. Bogle served on numerous boards during his career, including the board of governors of the Investment Company Institute, which he chaired in 1969 to 1970. 139 views, 7 likes, 0 loves, 2 comments, 1 shares, Facebook Watch Videos from American Indian College Fund: It was an honor to present College Fund's Billapaache Award to the founder of Vanguard. Bogle was active in the investment industry. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Vanguard Announces Share Splits for Six Equity ETFs, Vanguard to Streamline Fund Lineup with Planned Merger and Liquidation, Pennsylvania Society Gold Medal for Distinguished Achievement, 2016, EY Entrepreneur Of The Year Lifetime Achievement Award, 2016. Eagle Bear Camp, LLC is the only company registered to this address. View the latest Wiki of John Bogle also find Net Worth, Age, Height & More. Mr. Morgan hired the ambitious 22-year-old for his Philadelphia-based investment management firm, Wellington Management Company. Mr. Bogle had hoped that the Vanguard model structurally correct, mathematically correct, and ethically correct would goad other investment firms to give customers a fairer shake. In 2010, Forbes magazine described him as the person who "has done more good for investors than any other financier of the past century." A private service will be held next week. John Clifton "Jack" Bogle (May 8, 1929 - January 16, 2019) was an American investor, business magnate, and philanthropist.He was the founder and chief executive of The Vanguard Group, and is credited with creating the index fund.An avid investor and money manager himself, he preached investment over speculation, long-term patience over short-term action, and reducing broker fees as much as . He never failed to mention, in speech after speech and talk after talk, that money managers had failed miserably to earn their high fees, said Miller, the investment manager and longtime friend. Mr. Bogles father, an improvident charmer, was ill-equipped to cope. Mortimer "Tim" Buckley, 48, was born in Boston, the child of a nurse and a surgeon. ", Mr. Bogle spoke frequently before industry professionals and the public. Mr. Bogle argued that Vanguard funds were thus completely independent of their advisers and operated solely in the interests of shareholders able to monitor investment results objectively, negotiate advisory fees at arms length and change advisers if need be. John Clifton Bogle early realized the value of a penny. But Mr. Bogle became a harsh critic of the mutual fund industry in later years. 22:26. Future industry growth can be maximized by a reduction of sales loads and management fees.. Most fund companies spend huge sums to attract new customers. If Vanguard runs a tight ship, its a direct reflection of its founder. A few months later, he was back in the office, writing and speaking about issues of importance to mutual fund investors. Everything else is incidental. Future industry growth can be maximized by a reduction of sales loads and management fees.. Mr. Bogle was proud of the many jobs he held in his youth newspaper delivery boy, waiter, ticket seller, mail clerk, cub reporter, runner for a brokerage house, pinsetter in a bowling alley. My ideas are very simple, he once said. Vanguard announces the passing of John Clifton Bogle, founder of The Vanguard Group, who died today in Bryn Mawr, Pennsylvania. Much of his own altruism stems from the fact that he was a scholarship kid., It will surprise no one who knew Jack that he directed his support to financial aid and promoting community service, said former Princeton president Shirley Tilghman. FUSE Research Network Award for Lifetime Impact and Commitment to Investors and Investment Management Consultants Association Richard J. Davis Ethics Award, 2010. Former Vanguard CEO John Bogle believed in the power of low fees, starting to invest early, and dispensing with active money managers. Mr. Bogle also went a step further in differentiating Vanguard from other companies that sponsor mutual funds. In an op-ed for the Wall Street Journal in 2018, he warned that the concentration of ownership created by indexing firms presented a threat to the markets. In addition to squash, Mr. Bogle enjoyed tennis and golf, sailing, and summering at Lake Placid, N.Y. Mr. Bogle attended Blair Academy in northwestern New Jersey, where he blossomed academically. This was our time to talk to each other and find out what was going on in each others lives, Andrew Bogle recalled. He was fiercely competitive when it counted, more intellectually alert than any person Ive ever met, willing to face indeed, almost court controversy and criticism, stubborn but willing to compromise when absolutely necessary, and most importantly, loving, sentimental, kind, charitable, and courageous.. Mr. Bogle had his first heart attack in 1960, when he was only 30, and his heart stopped numerous times thereafter. We hope you will join us! He was a social critic, civic leader, mentor, and philanthropist whose generosity to the institutions that shaped his character, notably Blair Academy and Princeton University, far outstripped his legendary frugality. In addition to his son and daughter, Mr. Bogle is survived by his wife, the former Eve Sherrerd, whom he married in 1956; children Jeanne Bogle England, Nancy Bogle St. John, Sandra Hipkins Bogle, and John C. Bogle Jr.; and at least 12 grandchildren. There will be things youll do that youll wish you hadnt, and things you wont do that youll wish you had. Mr. Bogle was named president of Wellington in 1967, and soon thereafter it merged with the Boston investment company Thorndike, Doran, Paine & Lewis. I grew up in the best possible way, Mr. Bogle said in 2008, because we had social standing I never thought I was inferior to anybody because we didnt have any money but I had to work for everything I got.. Although he played no role in managing Vanguard after 2000, he continued to show up every weekday, usually in suit and tie and shined shoes, to discharge his duties as president of the Bogle Financial Markets Research Center. Weary from the train trip, Mr. Bogle asked where he could catnap. They have also lived in Mc Veytown, PA Barbara is related to Trudy Kay Renninger and Russel H Renninger as well as 3 additional people. Mr. Bogle at the Vanguard campus in Malvern, Pa., in 2012. At first, Mr. Bogle floundered, and his low grades in economics, his major, almost cost him his scholarship. He served as a trustee of the American Indian College Fund, The American College, and Blair Academy. Andrew In addition to Bogle on Mutual Funds, his other books include Common Sense on Mutual Funds (1999) and The Clash of the Cultures: Investment vs. Speculation (2012). While Mr. Bogle may have been cheap in the transactions of daily life, he was remarkably generous in a grand way. They had six children: daughters Barbara Bogle Renninger, Jean Bogle, Nancy Bogle St. John, and Sandra Bogle Marucci, and sons John C. Bogle Jr. and Andrew Armstrong Bogle. Mr. Bogle suffered from a rare and degenerative heart disease, and was admitted to Hahnemann Hospital in the fall of 1995 to begin the wait for a new heart. They had 12 grandchildren and six great-grandchildren. More than a successful businessman, Mr. Bogle was a capitalist with a soul. The principal function of mutual funds is the management of their investment portfolios, Mr. Bogle wrote. Born: 8-May-1929 Birthplace: Montclair, NJ Died: 16-Jan-2019 Location of death: Bryn Mawr, PA Cause of death: Cancer - Throat. . Bogle, then 76, had written his fifth book. Bogle a Montclair, New Jersey native launched Vanguard on May 1, 1975. In a lot of ways, the last decade, an extra decade of my life, has been the happiest of my life, Mr. Bogle said in 2008. He held our industry to a higher standard than it held itself, and I think a lot of people took umbrage at that, said Arthur Zeikel, a former Merrill Lynch & Co. CEO who knew Mr. Bogle for decades. Bogle was sought after in the corporate community. There, Mr. Bogle ordered his customary breakfast of two eggs over easy, fried potatoes, two slices of rye toast and coffee, all of which he consumed, Stengel recalled, in an incredibly systematic way. Residents of 19096 pay approximately $1,780 a month for a 2-bedroom unit. His greatest accomplishment, Mr. Bogle often said, was putting the mutual back in mutual funds. His most important innovation was the index fund. They sang patriotic songs (Lee Greenwoods God Bless the USA was a favorite), and Mr. Bogle raised a toast to the country of which he was so proud. He married Eve Sherrerd in 1956. . He was called a communist, a Marxist, a Bolshevik, a Calvinist scold and zealot, a holier-than-thou traitor and subversive who was undermining the pillars of capitalism with un-American rants. Mr. Bogle is survived by his wife Eve, daughters Barbara Bogle Renninger (Scott), Jean Bogle, Nancy Bogle St John (Gordon), and Sandra Bogle Marucci (Buddy), sons John Clifton Bogle Jr . They had 12 . That he was correct in calling them the croupiers at the gambling table did not endear him to the profession., Simply put, Jack cared, said William Bernstein. The company eliminated sales charges and became a pure no-load mutual fund complexa move that would save shareholders hundreds of millions of dollars in sales commissions. After he hired me, he said, Youre going to make mistakes. Select this result to view Barbara A Renninger's phone number, address, and more. When traveling, Mr. Bogle usually took the train or flew coach. The Vanguard Experiment was designed to prove that mutual funds could operate independently, and do so in a manner that would directly benefit their shareholders. Although he played no role in managing Vanguard after 2000, he continued to show up every weekday, usually in suit and tie and shined shoes, to discharge his duties as president of the Bogle Financial Markets Research Center. When he was president of the Constitution Center, Stengel regularly met Mr. Bogle for power breakfasts at one of Mr. Bogles favorite eateries, Bennys Place at Fourth and Chestnut Streets. Below is the press release issued today by Vanguard, which we reprint in full. Our challenge at the time was to build, out of the ashes of a major corporate conflict, a new and better way of running a mutual fund complex, Mr. Bogle said in 1985. In a lot of ways, the last decade, an extra decade of my life, has been the happiest of my life, Mr. Bogle said in 2008. He was very emotional, and teared up easily over things. Like Perelman, Mr. Bogle carved a remarkable path. Im writing what I want and saying what I want, and I think my name and reputation, for whatever thats worth, have been enhanced.. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Ian Mclellan. To describe his new venture, Mr. Bogle coined the term "The Vanguard Experiment." Mr. Bogle attended Blair Academy in northwestern New Jersey, where he blossomed academically. He was fond of saying that so-and-so is all hat and no cattle. Jack was all cattle and not very much hat.. He reunited with his doctors years later. Price: $3.60. Did you mean: barbara bogle. In January 1996, Mr. Bogle passed the reins of Vanguard to his hand-picked successor, John J. Brennan, who joined the company in 1982 as Mr. Bogle's assistant. At first, Mr. Bogle floundered, and his low grades in economics, his major, almost cost him his scholarship. John Bogle married Eve Sherrerd in 1956. I established my roots there, finding even more unimaginable diamonds," he wrote in one of his books. See Photos. In addition to squash, Mr. Bogle enjoyed tennis and golf, sailing, and summering at Lake Placid, N.Y. They had 12 grandchildren and six great-grandchildren. In investing, you get what you dont pay for. California residents do not sell my data request. John Clifton Bogle of Bryn Mawr PA died at home on January 16, 2019, surrounded by his family. Mr. Bogle characterized his pugnacious relationship with the financial industry as a lovers quarrel. His mission, he said, was simple: to return capitalism, finance, and fund management to their roots in stewardship. He followed that with Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor (1999); John Bogle on Investing: The First 50 Years (2000); Character Counts: The Creation and Building of The Vanguard Group (2002); Battle for the Soul of Capitalism (2005); The Little Book of Common Sense Investing (2007); Enough. He received honorary degrees from a dozen universities, including his alma mater, which also bestowed on him its highest accolade, the Woodrow Wilson Award, for distinguished achievement in the nations service.. "He was a tremendously intelligent, driven, and talented visionary whose ideas completely changed the way we invest. He married Eve Sherrerd in 1956. After he hired me, he said, Youre going to make mistakes. Mr. Bogle, a chipper and unpretentious man who invited everyone to call him Jack, was founder and for many years chairman of the Vanguard Group, the Malvern-based mutual-fund company, where he pioneered low-cost, low-fee investing and mutual funds tied to stock-market indexes. I dont know any other story like it in American business history.. He cared enough about his clients to personally answer their letters; he cared enough about his employees to be on a first-name basis with thousands of them, and to pitch in at the phone banks when things got busy; and in the end, he cared enough about his country that he spent much of his last two decades away from home tirelessly crusading against an increasingly elephantine and dysfunctional financial system.. That philosophy attracted a following, including a group of grateful devotees who called themselves the Bogleheads, and convened annually to swap investment advice and pay homage to the man who had done so much to nourish their portfolios. In 1997, he was appointed by then-SEC Chairman Arthur Levitt to serve on the Independence Standards Board. His daughter Barbara Bogle Renninger served on the board of the Gesu School in North Philadelphia, where she was also a volunteer math tutor; his son Andrew was a patron of Robin Hood, a philanthropic organization established by investment bankers and hedge-fund managers to alleviate poverty in New York City. He was also a fellow of the American Philosophical Society and the American Academy of Arts and Sciences. Bogle was born May 8, 1929, in Montclair, New Jersey. In his 70s, he displayed the energy of men half his age, and his pace and ambition were the more remarkable because of his lifelong battle with heart disease, the result of a congenital defect that affected the hearts electrical current. We've listed 14 related ones in 8 states. Several years later, a management dispute with the principals of the new company led Mr. Bogle to depart; he founded Vanguard in 1974 to handle the administrative functions of the mutual funds overseen by Wellington Management. He was just as comfortable, if not more so, with someone whose cab he happened to get into, talking to people in the subway or to a waiter at the Princeton Club. He received honorary doctorate degrees from Villanova University, Trinity College, Georgetown University, Princeton University, the University of Delaware, University of Rochester, New School University, Susquehanna University, Eastern University, Widener University, Albright College, The Pennsylvania State University, Drexel University, and Immaculata University. The thesis earned Mr. Bogle a top grade, and he graduated magna cum laude. From there, he went to Princeton, which offered him a full scholarship and a job waiting tables in the dining hall. Disengaging himself from guiding Vanguard and forging a new role for himself was challenging for Mr. Bogle, who was dismayed by the rift that developed between him and the man he had groomed to succeed him, John J. Brennan. The accumulation of material goods is a waste you cant take them with you, anyway and the waste is typified by our financial system. Bogle, who had struggled with a congenital heart defect and had several heart attacks, had received a heart transplant in 1996. He made people aware of expenses, and told them that costs come right out of the bottom line.. In contrast to a management company, which in most cases controls the fund complex and provides all the investment, administrative and marketing services required in its operations, Vanguard is more like a mutual insurer, owned by investors in the funds, which employ their own officers and staff. More than a successful businessman, Mr. Bogle was a capitalist with a soul. I dont think theres an author who spent greater care on the words he chose, said Falloon, the Wiley editor who worked with Mr. Bogle. At Blair, Mr. Bogle chaired the board of trustees, chose the headmaster, and helped finance the construction of several buildings. He held our industry to a higher standard than it held itself, and I think a lot of people took umbrage at that, said Arthur Zeikel, a former Merrill Lynch & Co. CEO who knew Mr. Bogle for decades. /CNW/ - Vanguard announces the passing of John Clifton Bogle, founder of The Vanguard Group, who died today in Bryn Mawr, Pennsylvania. . Vanguard is one of the world's largest investment management companies. He popularized and became the leading proponent of indexing, the practice of structuring an investment portfolio to mirror the performance of a market yardstick, like the Standard & Poors 500 stock index. Lived In Willingboro NJ. Award for Professional Excellence from the Association for Investment Management and Research, 1998. Most observers expect that the share of corporate ownership by index funds will continue to grow over the next decade. They had six children: daughters Barbara Bogle Renninger, Jean Bogle, Nancy Bogle St. John, and Sandra Bogle Marucci, and sons John C. Bogle Jr. and Andrew Armstrong Bogle. Bogle wrote 12 books, selling over 1.1 million copies worldwide. They had six children: daughters Barbara Bogle Renninger, Jean Bogle, Nancy Bogle St. John, and Sandra Bogle Marucci, and sons John C. Bogle Jr. and Andrew Armstrong Bogle. In recent years it has been hard to argue with that. He genuinely liked talking to people and hearing their stories.. . Barbara Bogle is a resident of PA. Lookup the home address and phone 6106490638 and other contact details for this person. From the station or airport, he walked to his destination rather than taking a cab, or hailed a cab rather than riding in a limo, even in his 70s. For six go-go years, the partnership flourished, but when stock prices plunged in 1974, Mr. Bogle was fired. Learn how your comment data is processed. After giving up the chief executive title to his handpicked successor, John J. Brennan, Mr. Bogle openly disagreed with several of Mr. Brennans decisions. Early on, he served as chairman of the board of governors of the Investment Company Institute from 1969 to 1970. By. Another institution that benefited tremendously from Mr. Bogles involvement was the Constitution Center, whose board he chaired from 1999 to 2007. He was a true American hero.. Two years later, Mr. Bogle founded the First Index Investment Trust, later called the Vanguard Index Trust, now known as the Vanguard 500 Index Fund, the first index fund for individual investors. John C Bogle, who founded the Vanguard Group of Investment Cos in 1974 and built it into a giant mutual fund company, with $4.9 trillion in assets under management today, died Wednesday in Bryn . He was a member of the American Philosophical Society, American Academy of Arts and Sciences, The Conference Board's Commission on Public Trust and Private Enterprise, and the investment committee of the Phi Beta Kappa Society. He was like a surrogate father to me, said former headmaster Chan Hardwick. He studied economics at Boston's Harvard University and in his final year of university considered following in his parents' footsteps and pursuing a career in medicine. Bogle Eve Sherrerd 1956. We could choose our own way of contributing, whether it be time or money or just our thoughts, but we knew that the default option is that you're going to give back.. Children and grandchildren gathered at the family camp on Lake Placid. His daughter Barbara Bogle Renninger served on the board of the Gesu School in North Philadelphia, where she was also a volunteer math tutor; his son Andrew was a patron of Robin Hood, a philanthropic organization established by investment bankers and hedge-fund managers to alleviate poverty in New York City. The world wont be the same without Jack. He was fiercely competitive when it counted, more intellectually alert than any person Ive ever met, willing to face indeed, almost court controversy and criticism, stubborn but willing to compromise when absolutely necessary, and most importantly, loving, sentimental, kind, charitable, and courageous.". Jack operated at only two speeds, as fast as is humanly possible and stop, said Paul Miller, the late private investor and founding partner of Miller Anderson & Sherrerd, who was a close friend of Mr. Bogles for decades. But he applied himself and slowly mastered the demands. We have 13 records for Andrew Renninger ranging in age from 25 years old to 58 years old. And then he stretched out and put his head on the back rest., Before nodding off, Mr. Bogle issued instructions: If anybody wonders what Im doing, tell them Im dead.. He always went the extra mile to make sure there wasnt a single person who could not understand what he was saying.. 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