john bogle forbes

QuestionsAnswered.net

What's Your Question?

How to Find John Deere Manuals Online

John Deere dealers and all those who use John Deere equipment need a copy the corresponding equipment’s manual. There are separate manuals for each kind of equipment and this includes operating and safety equipment, besides maintenance and service intervals and other pertinent information that are essential for safe handling and repairing your equipment. This article will show you how to find these John Deere manuals online.

John Deere Website

The best option is to visit the John Deere site and search for manuals. When you’re redirected to the manuals home page, you’ll be asked to enter the Decal model number and the language in which you want the manuals. You can choose a language from more than 25 popular languages. When you hit the search button, a list of products relevant to your three-digit Decal number will be displayed.

You can further refine this list based on region or category. You can also narrow it down by the exact equipment such as a John Deere hydraulic filter, John Deere front end loader, John Deere tractor snow blowers and so on. In the refined list of results, look for the manual you want and click on the hyperlink. This should download the manual for you.

Online Manual Stores

There are a few websites that specialize in displaying manuals, and some of them charge a small fee for this service. You can always search through these sites. Start with the category and choose the kind of equipment for which you need the manuals. From there, select the name of the manufacturer which is John Deere in this case and you should see a list of all manuals of John Deere displayed. Choose the one you want.

eBay is another good place to search for manuals. Though it may not be as comprehensive as the John Deere site, you’ll still be able to find some good manuals. If you have older models of equipment such as John Deere rotary cutters or John Deere skid steer tracks, eBay is the best place to find the manual you want.

John Deere Bookstore

John Deere’s bookstore has operator’s manuals, catalogs of parts, technical manuals, training guides, videos and installation instructions that you can use for John Deere troubleshooting or just to get more information about any product.

Social Sharing Sites

Social sharing sites like Slideshare or Scribd may also have manuals that you can use to troubleshoot any problems. Sometimes, local John Deere dealers may have some documents uploaded in their cloud storage or possibly in their emails. It is a good idea to check with them as well.

In short, John Deere manuals are essential for troubleshooting different John Deere equipment, get a better understanding of its safety and know how to use it. You are sure to find the manual you want in any of the above places.

MORE FROM QUESTIONSANSWERED.NET

We’re sorry, this feature is currently unavailable. We’re working to restore it. Please try again later.

• Our network

The Sydney Morning Herald

• World markets

This was published 4 years ago

He should be a billionaire, but Jack Bogle chose to make others richer

By nir kaissar, save articles for later.

Add articles to your saved list and come back to them any time.

John Bogle's biggest contribution is yet to come.

The Vanguard Group founder and father of the index fund, better known as Jack, died on Wednesday at the age of 89. A lot will be said about his influence on the financial industry in the coming days, and deservedly so. He transformed money management, making investing cheaper, simpler and more accessible than ever before, lifting the financial well-being of millions of people in the process.

Vanguard Group founder John 'Jack' Bogle is known as the father of the index fund. Credit: Bloomberg

But the most remarkable thing about Bogle is that he created billions - and perhaps trillions - of dollars in value for others and kept relatively little of it for himself. That stands in sharp contrast to the unabashed accumulation of riches among corporations, even as wealth inequality rises to alarming levels. Bogle's life is a reminder that business leaders have the power, indeed the responsibility, to shrink the wealth divide between their companies and the workers and consumers who sustain them.

If Bogle were anyone else, he'd be a billionaire. His brand of investing - buy low-cost, broad-based index funds and hold them forever - seems obvious now, but it wasn't inevitable. When Bogle launched the first index fund available to individual investors in 1976, the industry ridiculed it, calling it "Bogle's folly." Bogle was undeterred, and today Vanguard is among the largest money managers in the world, with $US5 trillion in assets, roughly two-thirds of which is invested in index funds.

That's just a small fraction of Bogle's impact. Roughly a third of the money invested in US mutual funds and exchange-traded funds tracks an index. The biggest money managers in the world, such as BlackRock Inc. and State Street Corp., are best known for their low-cost index funds. And the entire fund industry has been forced to lower fees in response, saving investors billions of dollars. There is literally no part of the industry that hasn't been affected by Bogle's revolution.

And yet Bogle's net worth is estimated at $US80 million ($111 million) , a laughably small sum for the founder of one of the world's biggest financial institutions. Compare that with Stephen Schwarzman, co-founder of private equity firm Blackstone Group, who has a net worth of $US12.3 billion, according to the Bloomberg Billionaires Index. Or Abigail Johnson, CEO of Fidelity Investments, who has a net worth of $US12.2 billion, despite the fact that Fidelity is half the size of Vanguard based on assets under management. Or Larry Fink, CEO of BlackRock, who reportedly joined the ranks of billionaires last year.

So where did Bogle's money go? It went to Vanguard's investors, who still pay a fraction of the fees charged by the average mutual fund four decades after the firm's founding. It also went to Vanguard's employees, who were undoubtedly better paid than they would have been if Bogle were intent on amassing a fortune.

Some will argue that companies are required to make as much money as possible for shareholders, whereas Vanguard, which is owned by its investors, doesn't have the same burden. That's a cop-out. For one, any company can choose to mimic Vanguard's ownership structure. Also, a growing number of business leaders are big shareholders in their companies, so the corporate structure gives them a backdoor through which they can pad their own pockets.

Bogle's spread-the-wealth philosophy is laid out in his remarkable 2008 book "Enough: True Measures of Money, Business, and Life." In it he extolls the virtue of giving and expresses deep skepticism about ceaseless accumulation of wealth. It's hard to imagine many other business leaders expressing those sentiments, never mind living by them, but Bogle's example is needed more now than ever.

Bogle helped his clients make trillions. Credit: AP

The disparity between business leaders and workers is shocking. Jeff Bezos, the founder of Amazon.com, is the world's richest person with a net worth of $US139 billion. Meanwhile, the median annual compensation at Amazon was $US28,446 in 2017, according to the company. That's below the 2018 federal poverty level for a family of five.

There are numerous other examples. Jim and Rob Walton, heirs to the Walmart Inc. empire, are collectively worth $US91 billion. The median annual compensation for a Walmart worker in the 2018 fiscal year was $US19,177, which is below the poverty line for a family of three.

Yes, founders, innovators and corporate leaders deserve to be rewarded for their contributions. But as wealth disparity grows, and with it skepticism of free markets, Bogle's legacy will loom ever larger, reminding everyone that a free market crucially depends on business leaders' willingness to look after the well-being of all constituents - in their ability to say, "enough."

Most Viewed in Business

• Share full article

Advertisement

Supported by

John C. Bogle, Founder of Financial Giant Vanguard, Is Dead at 89

By Edward Wyatt

• Jan. 16, 2019

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. He was 89.

His personal assistant, Michael Nolan, said the cause was esophageal cancer. Mr. Bogle, who had struggled with a congenital heart defect and had several heart attacks, received a heart transplant in 1996.

Mr. Bogle built Vanguard, which is based in Malvern, Pa., on a cornerstone belief that was anathema to most mutual fund companies: that over the long term, most investment managers cannot outperform the broad market averages. 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 & Poor’s 500 stock index.

“Indexing was the purview of institutional investors, but Jack Bogle came up with the consumer version,” said Daniel P. Wiener, the editor of The Independent Adviser for Vanguard Investors, a newsletter and website that has tracked the company for decades. “He made people aware of expenses, and told them that costs come right out of the bottom line.”

But Mr. Bogle became a harsh critic of the mutual fund industry in later years. In the second half of the 1990s, he said, stock market investors were spoiled by average annual returns of more than 20 percent per year and, as a result, cared too little about the high expenses they were paying to mutual fund managers for those managers’ presumed expertise at picking stocks. Mutual fund companies, he said, were all but immoral for accepting such fees.

“My ideas are very simple,” he told the financial columnist Jeff Sommer of The New York Times in 2012. “In investing, you get what you don’t 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 won’t be foolish enough to think that they can consistently outsmart the market.”

In recent years it has been hard to argue with that. Since 1984, less than half of the actively managed mutual funds that invest in a broad array of American stocks have outperformed the Vanguard 500 Index Fund, one of the world’s largest, with more than $441 billion in assets under management, according to Vanguard.

Vanguard’s advantage came from the unusual corporate structure that Mr. Bogle adopted. Vanguard managed its indexed mutual funds at cost, charging investors fees that were far lower than those of virtually all of its rivals.

Mr. Bogle also went a step further in differentiating Vanguard from other companies that sponsor mutual funds. 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. Those employees are responsible to the funds’ directors.

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 “arm’s length” and change advisers if need be.

“John Bogle has changed a basic industry in the optimal direction,” Paul A. Samuelson , the 1970 Nobel laureate in economics, wrote in a foreword to “Bogle on Mutual Funds” (1993). “Of very few this can be said.”

The superior performance of the Vanguard funds attracted investors and assets in droves. In the last three years of the 1990s, Vanguard received more new money from investors than the next three largest fund companies combined.

Vanguard’s consistent growth produced riches for Mr. Bogle, but not to the extent that another ownership structure might have done. For example, Edward C. Johnson III, the chairman of Fidelity Investments, has a net worth of $7.4 billion, according to Forbes. Mr. Bogle’s net worth was generally estimated at $80 million last year.

Most fund companies spend huge sums to attract new customers. But Mr. Bogle eschewed the product- and marketing-driven thinking of much of the industry that has spread with the boom in mutual fund sales this decade.

“We’re never allowed to use the word ‘product,’” he told an interviewer in 1995. “It sounds like toothpaste and beer.”

His reputation as a tightwad was well earned. At breakfast with a reporter in 1993, at a suburban Philadelphia restaurant near Vanguard’s headquarters, Mr. Bogle figured out that he would beat the $5.95 cost of the buffet by ordering from the menu. If he had an early-morning meeting in New York, he would take the early Amtrak Metroliner shuttle rather than pay for a hotel room in Manhattan.

Mr. Bogle readily took swipes at the press for lauding fund managers who temporarily got a hot hand, and for focusing heavily on a fund’s quarterly performance. Even a fund manager’s long-term record is not an accurate predictor of future performance, he said.

It was that combative nature that had led him to start Vanguard in the first place.

After graduating magna cum laude from Princeton in 1951 with an economics degree, Mr. Bogle was hired by Walter L. Morgan, founder of the Wellington Fund, a Philadelphia-based fund management company. Mr. Morgan had read Mr. Bogle’s senior thesis on mutual funds.

While working his way up at Wellington, Mr. Bogle persuaded Mr. Morgan to introduce a new all-equity fund, called the Windsor Fund, to complement Wellington, which invested in both stocks and bonds.

Mr. Bogle was named president of Wellington in 1967, and soon thereafter it merged with the Boston investment company Thorndike, Doran, Paine & Lewis. 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.

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. The next year he again broke from industry practice, selling mutual funds directly to investors rather than through brokers, and thus eliminating the sales fees of up to 9 percent that funds typically charged.

“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.

He officially stepped down as chief executive of Vanguard in January 1996 and remained as chairman until the end of 1999. Tim Buckley is the current chief executive.

Mr. Bogle’s retirement did not come easily. After giving up the chief executive title to his handpicked successor, John J. Brennan, Mr. Bogle openly disagreed with several of Mr. Brennan’s decisions. A rift developed between them, which contributed to Mr. Bogle’s failure to persuade Vanguard’s board of directors to allow him to stay on past the traditional retirement age of 70.

“I thought there would be an exception for the company’s founder,” he said in 2012. Vanguard veterans say that Mr. Bogle and Mr. Brennan barely spoke, if at all, in the years afterward.

Mr. Bogle left the Vanguard board and set up the Bogle Financial Markets Research Center, a financial research institute, in order, he said, to “let the controversy die away in a gracious way.”

Mr. Brennan was succeeded by F. William McNabb III, who told Mr. Sommer in 2012 that people at Vanguard “revere Jack Bogle.”

John Clifton Bogle was born in Montclair, N.J., on May 8, 1929. A twin brother, David, died in 1994.

Mr. Bogle graduated from Blair Academy in Blairstown, N.J., and, in 1951, from Princeton; he was a scholarship student at both.

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. After his heart transplant in 1996, he returned to good enough health that he was able to play squash daily.

Mr. Bogle served on the board of the Investment Company Institute, a mutual fund trade group, from 1969 to 1974, and as its chairman from 1969 to 1970. In 1991, he was named by the chairman of the Securities and Exchange Commission, Richard C. Breeden, to the Market Oversight and Financial Services Advisory Committee.

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).

Mr. Bogle married Eve Sherrerd in 1956. She survives him, as do a brother, William Yates Bogle III; four daughters, Barbara Bogle Renninger, Jean Bogle, Nancy Bogle St. John and Sandra Bogle Marucci; two sons, John Jr. and Andrew; 12 grandchildren; and six great-grandchildren.

Mr. Bogle regularly gave half his salary to charities.

“My only regret about money,” he said in 2012, “is that I don’t have more to give away.”

An earlier version of this obituary misstated both the original name and the current name of the fund Mr. Bogle established shortly after founding Vanguard. It was originally called the First Index Investment Trust, not the Vanguard Index Trust (that was a later name); and it is now known as the Vanguard 500 Index Fund, not the Index 500 Fund. The earlier version also omitted part of the name of the heart condition for which Mr. Bogle had been treated for more than 30 years. It is arrhythmogenic right ventricular dysplasia, not right ventricular dysplasia.

How we handle corrections

Ana Fota contributed reporting.

Search form

Lives: John C. Bogle ’51

He Changed the Way We Save and Invest

Photo: Matthew Furman/The Forbes Collection/Contour RA/Getty Images

These days, the term “disrupter” is thrown around loosely. Yet when it comes to describing John C. Bogle ’51, the father of index investing, that label may not be applied enough. “Jack was without question one of the most disruptive forces in finance in the last century,” says Robert Arnott, chairman of the global asset-management firm Research Affiliates, who counted Bogle as both competitor and mentor. 

Bogle didn’t actually invent the game-changing innovation he championed, though the concepts that underpinned indexing were rooted in his Princeton thesis. Two other firms had tested variations of index funds a few years before the Vanguard Group, the mutual-fund company Bogle founded, launched the Vanguard 500 in 1976.

But Bogle’s index fund — which bought and held all the stocks in the S&P 500 index, rather than trying to pick the most promising ones — was the first such vehicle available to the masses, and it changed the way Americans save and invest for retirement. 

Like most disrupters, Bogle was ridiculed for his ideas. His critics, who called indexing “Bogle’s Folly,” could not understand why any investor would want to “settle” for average returns by owning every stock in a market. What they failed to consider was that the high costs associated with stock picking make it exceedingly difficult to beat the market consistently over time. Bogle understood this, as well as the fact that index funds could simplify the investment process, which helped democratize Wall Street and lower the cost of investing, forcing others in the industry to slash costs. 

Bogle was known as “Saint Jack” — by his supporters for being the resolute patron saint of individual investor rights and by his opponents for relentlessly proselytizing the virtues of indexing to anyone within earshot, including the very portfolio managers that his index funds threatened. “My guess is that he was considered one of the biggest royal pains of anyone in the industry,” adds Jeremy Grantham, who helped develop the first index fund for institutional investors in the early 1970s.

Bogle wasn’t passionate solely about his work. He was “relentless about ideas” but also fiercely devoted to his six children and 12 grandchildren, notes Anne Sherrerd *87, Bogle’s niece. His passion for life grew even stronger after he received a heart transplant in 1996 at the age of 66. In 2016, Bogle’s family threw a 20th-birthday party for his transplanted heart. “Uncle Jack got up and gave this very moving talk about those 20 years and what a gift it was — and how important it was for him to use those 20 years well,” Sherrerd says.

And he did, not just for his himself, his family, or his legacy. Bogle, who attended Princeton on scholarship and sweat — he waited tables and worked at Princeton’s athletic department’s ticket office while on campus — continues to give back through the Bogle Brothers Scholarships, which he established at Princeton and the Blair Academy in honor of his brothers, William Yates Bogle and David Caldwell Bogle. He contributed a dorm in Butler College and was a big supporter of the Pace Center for Civic Engagement, where a program enabling students to pursue summer service projects is named in his honor. 

In business, Bogle “put an important emphasis on putting clients first and making profits as an investment manager a distant second,” says Grantham. Why? In his 2008 book  Enough,  Bogle described what drove him to challenge the investment community: “Because what I’m battling for — building our nation’s financial system anew, in order to give our citizen/investors a fair shake — is right,” he wrote. “Call it idealism, and it’s as strong today as — maybe even stronger than — it was when I wrote that idealistic Princeton thesis 57 years ago.”

Paul J. Lim ’92, former deputy editor at  Money  magazine, is vice president of BackBay Communications. 

MAY 8, 1929 | JAN. 16, 2019

Explore the Constitution

• The Constitution
• Read the Full Text

Dive Deeper

Constitution 101 course.

• The Drafting Table
• Supreme Court Cases Library
• Founders' Library
• Constitutional Rights: Origins & Travels

Start your constitutional learning journey

• News & Debate Overview
• Constitution Daily Blog
• America's Town Hall Programs
• Special Projects

Media Library

America’s Town Hall

Watch videos of recent programs.

• Education Overview

Constitution 101 Curriculum

• Classroom Resources by Topic
• Classroom Resources Library
• Live Online Events
• Professional Learning Opportunities
• Constitution Day Resources

Explore our new 15-unit high school curriculum.

• Explore the Museum
• Plan Your Visit
• Exhibits & Programs
• Field Trips & Group Visits
• Host Your Event
• Buy Tickets

New exhibit

The first amendment, john c. bogle.

CHAIR EMERITI

Jack Bogle 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 first index fund. Bogle was also a best-selling author, beginning with Bogle on Mutual Funds: New Perspectives for the Intelligent Investor in 1993. In total he wrote 12 books, selling over 1.1 million copies worldwide.

In 2004, Time magazine named Mr. Bogle one of “the world’s 100 most powerful and influential people” and Institutional Investor magazine presented him with its Lifetime Achievement Award. In 2010, Forbes magazine described him as the person who “has done more good for investors than any other financier of the past century.” Fortune magazine designated him one of the investment industry’s four “Giants of the 20th Century” in 1999. In January 2012, some of the nation’s most respected financial leaders celebrated his career at the John C. Bogle Legacy Forum. Throughout his lifetime he received numerous additional awards and honors. 

Bogle was active in civic affairs. His civic work extended to organizations involved in education, leadership, and public affairs. He served as the first chairman of the board of trustees and chairman emeritus for the National Constitution Center. 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 served as a trustee of the American Indian College Fund, The American College, and Blair Academy.

More from the National Constitution Center

Constitution 101

Explore our new 15-unit core curriculum with educational videos, primary texts, and more.

Search and browse videos, podcasts, and blog posts on constitutional topics.

Founders’ Library

Discover primary texts and historical documents that span American history and have shaped the American constitutional tradition.

Modal title

Modal body text goes here.

Share with Students

News release

Pressroom home

Vanguard Announces The Passing Of Founder John C. Bogle

VALLEY FORGE, PA (January 16, 2019)—Vanguard announces the passing of John Clifton Bogle, founder of The Vanguard Group, who died today in Bryn Mawr, Pennsylvania. He was 89. 

Mr. Bogle had legendary status in the American investment community, largely because of two towering achievements: He introduced the first index mutual fund for investors and, in the face of skeptics, stood behind the concept until it gained widespread acceptance; and he drove down costs across the mutual fund industry by ceaselessly campaigning in the interests of investors. Vanguard, the company he founded to embody his philosophy, is now one of the largest investment management firms in the world.

“Jack Bogle made an impact on not only the entire investment industry, but more importantly, on the lives of countless individuals saving for their futures or their children’s futures,” said Vanguard CEO Tim Buckley. “He was a tremendously intelligent, driven, and talented visionary whose ideas completely changed the way we invest. We are honored to continue his legacy of giving every investor ‘a fair shake.’”           

Mr. Bogle, a resident of Bryn Mawr, PA, began his career in 1951 after graduating magna cum laude in economics from Princeton University. His senior thesis on mutual funds had caught the eye of fellow Princeton alumnus Walter L. Morgan, who had founded Wellington Fund, the nation’s oldest balanced fund, in 1929 and was one of the deans of the mutual fund industry. Mr. Morgan hired the ambitious 22-year-old for his Philadelphia-based investment management firm, Wellington Management Company.

Mr. Bogle worked in several departments before becoming assistant to the president in 1955, the first in a series of executive positions he would hold at Wellington: 1962, administrative vice president; 1965, executive vice president; and 1967, president. Mr. Bogle became the driving force behind Wellington’s growth into a mutual fund family after he persuaded Mr. Morgan, in the late 1950s, to start an equity fund that would complement Wellington Fund. Windsor Fund, a value-oriented equity fund, debuted in 1958.

In 1967, Mr. Bogle led the merger of Wellington Management Company with the Boston investment firm Thorndike, Doran, Paine & Lewis (TDPL). Seven years later, a management dispute with the principals of TDPL led Mr. Bogle to form Vanguard in September 1974 to handle the administrative functions of Wellington’s funds, while TDPL/Wellington Management would retain the investment management and distribution duties. The Vanguard Group of Investment Companies commenced operations on May 1, 1975.

To describe his new venture, Mr. Bogle coined the term “The Vanguard Experiment.” It was an experiment in which mutual funds would operate at cost and independently, with their own directors, officers, and staff—a radical change from the traditional mutual fund corporate structure, whereby an external management company ran a fund’s affairs on a for-profit basis.

“Our challenge at the time,” Mr. Bogle recalled a decade later, “was to build, out of the ashes of major corporate conflict, a new and better way of running a mutual fund complex. 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.”

In 1976, Vanguard introduced the first index mutual fund—First Index Investment Trust—for individual investors. Ridiculed by others in the industry as “un-American” and “a sure path to mediocrity,” the fund collected a mere $11 million during its initial underwriting. Now known as Vanguard 500 Index Fund, it has grown to be one of the industry’s largest, with more than $441 billion in assets (the sister fund, Vanguard Institutional Index Fund, has $221.5 billion in assets). Today, index funds account for more than 70% of Vanguard’s $4.9 trillion in assets under management; they are offered by many other fund companies as well and they make up most exchange-traded funds (ETFs). For his pioneering of the index concept for individual investors, Mr. Bogle was often called the “father of indexing.”

Mr. Bogle and Vanguard again broke from industry tradition in 1977, when Vanguard ceased to market its funds through brokers and instead offered them directly to investors. The company eliminated sales charges and became a pure no-load mutual fund complex—a move that would save shareholders hundreds of millions of dollars in sales commissions. This was a theme for Mr. Bogle and his successors: Vanguard is known today for maintaining investment costs among the lowest in the industry.

A champion of the individual investor, Mr. Bogle is widely credited with helping to bring increased disclosure about mutual fund costs and performance to the public. His commitment to safeguarding investors' interests often prompted him to speak out against practices that were common among his peers in other mutual fund organizations. “We are more than a mere industry,” he insisted in a 1987 speech before the National Investment Company Services Association. “We must hold ourselves to higher standards, standards of trust and fiduciary duty. Change we must—in our communications, our pricing structure, our product, and our promotional techniques.”

Mr. Bogle spoke frequently before industry professionals and the public. He liked to write his own speeches. He also responded personally to many of the letters written to him by Vanguard shareholders, and he wrote many reports, sometimes as long as 25 pages, to Vanguard employees—whom he called “crew members” in light of Vanguard’s nautical theme. (Mr. Bogle named the company after Admiral Horatio Nelson’s flagship at the Battle of the Nile in 1798; he thought the name "Vanguard" resonated with the themes of leadership and progress.)

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. The following month, Mr. Bogle underwent heart transplant surgery. A few months later, he was back in the office, writing and speaking about issues of importance to mutual fund investors.

In December 1999, he stepped down from the Vanguard board of directors and created the Bogle Financial Markets Resource Center, a Vanguard-supported venture. Mr. Bogle worked as the center’s president—analyzing issues affecting the financial markets, mutual funds, and investors through books, articles, and public speeches—until his death. Mr. Bogle wrote 12 books, selling over 1.1 million copies worldwide.

Industry accomplishments

Mr. Bogle was active in the investment industry. Early on, he served as chairman of the board of governors of the Investment Company Institute from 1969 to 1970. He also served as chairman of the Investment Companies Committee of the National Association of Securities Dealers Inc. (now FINRA) from 1972 to 1974. In 1997, he was appointed by then-SEC Chairman Arthur Levitt to serve on the Independence Standards Board.

In 2004, Time magazine named Mr. Bogle one of “the world’s 100 most powerful and influential people” and Institutional Investor magazine presented him with its Lifetime Achievement Award. In 2010, Forbes magazine described him as the person who “has done more good for investors than any other financier of the past century.” Fortune magazine designated him one of the investment industry’s four “Giants of the 20th Century” in 1999. In January 2012, some of the nation’s most respected financial leaders celebrated his career at the John C. Bogle Legacy Forum. Among his numerous other awards and honors were:

• Pennsylvania Society Gold Medal for Distinguished Achievement, 2016
• EY Entrepreneur Of The Year Lifetime Achievement Award, 2016
• FUSE Research Network Award for Lifetime Impact and Commitment to Investors and Investment Management Consultants Association Richard J. Davis Ethics Award, 2010.
• National Council on Economic Education Visionary Award, 2007.
• Center for Corporate Excellence Exemplary Leader Award, 2006.
• Yale School of Management, Legends of Leadership, 2003.
• Barron’s Investment Hall of Fame, 1999.
• Woodrow Wilson Award from Princeton University for “distinguished achievement in the nation’s service,” 1999.
• Fixed Income Analysts Society’ Hall of Fame, 1999.
• Award for Professional Excellence from the Association for Investment Management and Research, 1998.
• No-Load Mutual Fund Association’s first Outstanding Achievement Award, 1986.

An avid booster of Philadelphia and the surrounding area, Mr. Bogle was active in civic affairs. “I loved Philadelphia, my adopted city that had been so good to me. I established my roots there, finding even more unimaginable diamonds,” he wrote in one of his books.

His civic work extended to organizations involved in education, leadership, and public affairs. He served as the first chairman of the board of trustees and chairman emeritus for the National Constitution Center. 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 served as a trustee of the American Indian College Fund, The American College, and Blair Academy.

Corporate board memberships

Mr. Bogle was sought after in the corporate community. He served as a director of Instinet Corporation, Chris-Craft Industries, Mead Corporation, The General Accident Group of Insurance Companies, Meritor Financial Group, Inc., and Bryn Mawr Hospital. He was a trustee for the American Indian College Fund and The American College.

Academic recognition

The academic community recognized Mr. Bogle's for his accomplishments. 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.

Author and speaker

Mr. Bogle was a best-selling author, beginning with Bogle on Mutual Funds: New Perspectives for the Intelligent Investor in 1993. 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. True Measures of Money, Business, and Life (2008); Common Sense on Mutual Funds: Fully Updated 10 th Anniversary Edition (2009); Don’t Count on It! Reflections on Investment Illusions, Capitalism, “Mutual” Funds, Indexing, Entrepreneurship, Idealism, and Heroes (2011) ; The Clash of the Cultures: Investment vs. Speculation (2012) ; The Little Book of Common Sense Investing: 10 th Anniversary Edition (2017), and, Stay the Course: The Story of Vanguard and the Index Revolution (2018) .

Mr. Bogle also wrote numerous articles and commentaries for trade and business publications.

Personal information

Mr. Bogle was born May 8, 1929, in Montclair, New Jersey. He worked his way through Blair Academy and Princeton University as a waiter and also managed Princeton’s athletic ticket office.          

A tall, athletic man who sported a crew cut for most of his life, Mr. Bogle played squash, tennis, and golf, and also enjoyed sailing. He was often described as a “fierce competitor” on the court and course, a demeanor he also maintained on the job. Reading was among his pleasures, as was The New York Times crossword puzzle, which he often completed in less than 20 minutes.

He married Eve Sherrerd in 1956. 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. They had 12 grandchildren and six great-grandchildren.

About Vanguard

Vanguard is one of the world’s largest investment management companies. As of December 31, 2018, Vanguard managed $4.9 trillion in global assets. The firm, headquartered in Valley Forge, Pennsylvania, offers more than 413 funds to its more than 20 million investors worldwide. For more information, visit vanguard.com.

Contact Public Relations