There’s not many people in the financial world that have earned as much acclaim and adoration as the founder of Vanguard, John Bogle. Like his good friend Warren Buffett, these two men exemplify radical humility in an industry loaded with oversized egos.
Bogle leveled the playing field for investors when he had the vision and courage to take on the financial services industry by introducing low cost, no-load, index funds. This revolutionary concept changed forever the investing landscape and its continued impact will be felt for generations to come.
Unlike most firms in the financial industry, Vanguard stands apart as a mutually owned company, owned by its investors. There is no middleman skimming profits off the top. Similar to a credit union, profits are plowed back into lowering the cost of their services to their members, or in Vanguard’s case, to their investors. This difference alone is a stark contrast to how most of the firms on Wall Street operate. Therefore, it’s no secret how Vanguard has become the largest mutual fund company in the U.S.
Bogle has been my hero, my north star, since I first started investing back in the day. His integrity, his outstanding vision, his moral compass and his continuing contribution to this industry is remarkable.
Bravo! Well done.