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. 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.". A private service will be held next week. 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 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. Im doing what I want to do. 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. The firm, headquartered in Valley Forge, Pennsylvania, offers more than 413 funds to its more than 20 million investors worldwide. When he was not touting the advantages of the Vanguard mode of investing, Mr. Bogle, a self-proclaimed battler by nature, was lambasting his professional brethren for rank speculation, reckless assumption of debt, obscene multimillion-dollar paychecks, and golden parachutes, and saying they had abdicated their duty as stewards in favor of self-interested salesmanship. He genuinely liked talking to people and hearing their stories.. n 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. But he applied himself and slowly mastered the demands. Like Perelman, Mr. Bogle carved a remarkable path. 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.. 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. 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. If youre honest with me, Ill support you fully. . Those employees are responsible to the funds directors. While index funds have become widely popular, Vanguards competitors often have been less than keen about following the companys penny-pinching lead. Jessica Kourkounis for The New York Times. 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 had long argued that a mutual fund representing a broad range of businesses for instance, the Standard & Poors 500, an index containing the stocks of 500 large publicly held U.S. companies would not only match the markets average return but also generally surpass the performance of actively managed funds. 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. 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. Award for Professional Excellence from the Association for Investment Management and Research, 1998. John C. Bogle: John C. Bogle hrek, John C. Bogle cikkek. Most observers expect that the share of corporate ownership by index funds will continue to grow over the next decade. So intelligent investors will use low-cost index funds to build a diversified portfolio of stocks and bonds, and they will stay the course. . John Clifton Bogle early realized the value of a penny. Yes (Sandra Bogle Marucci, Jean Bogle, Nancy Moore Bogle, Andrew Armstrong Bogle, Barbara Bogle Renninger, John Bogle Jr.) Profession: Investor, business magnate, and philanthropist: Net Worth in 2022: $85 million: The Vanguard Group's founder and former CEO, John Bogle was a successful investor, entrepreneur, and philanthropist. Lived In Willingboro NJ. Mr. Bogle, known as Jack, was born. Mr. Bogle wasnt afraid to criticize his own index fund creation which he wrote may have grown too large. He was 89. "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. You want to be average and then win by virtue of your costs, Mr. Bogle said. He was literally reborn, and he really appreciated the chance of having a second go at life.. August 29, 2022. Daughter: Nancy Moore St. John Daughter: Sandra Hipkins Bogle Marucci View David Renninger results including current phone number, address, relatives, background check report, and property record with Whitepages. Includes Address (4) Phone (7) Email (4) See Results. If Vanguard runs a tight ship, its a direct reflection of its founder. 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. The Bogles lost their home and were forced to move in with relatives. The decision was made as part of Vanguard's ongoing, comprehensive review of its global product lineup to ensure that each fund and ETF meets the evolving needs of clients. He was 89. If the jockey carries a lot of extra pounds, its very tough for the horse to win the race.. Looking back now, I find it remarkable that he was able to work as hard as he did but still say, This is a priority and what Im going to do be home every night.. My ideas are very simple, he once said. He genuinely liked talking to people and hearing their stories.. So he walked into this little office and pushed a chair over so its back was on the floor, Falloon recalls. 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 worked his way through Blair Academy and Princeton University as a waiter and also managed Princeton's athletic ticket office. 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. A quick search turned up multiple names. 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. from 8 AM - 9 PM ET. Select this result to view Barbara A Renninger's phone number, address, and more. Mr. Bogle graduated from Blair Academy in Blairstown, N.J., and, in 1951, from Princeton; he was a scholarship student at both. Mr. Bogles philanthropy reflected his belief that to whom much is given, much is expected. Lives in Hutchinson, Kansas . Not to worry, Mr. Bogle said. Resides in Uniontown, PA. . 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. Bogle a Montclair, New Jersey native launched Vanguard on May 1, 1975. 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.. And they wont be foolish enough to think that they can consistently outsmart the market.. People named Barbra Bogle. Im writing what I want and saying what I want, and I think my name and reputation, for whatever thats worth, have been enhanced.. Required fields are marked *. Vanguard. When we were growing up, we were told that were very fortunate in so many ways and that we were expected to give back, Andrew Bogle recalled. 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. This was a theme for Mr. Bogle and his successors: Vanguard is known today for maintaining investment costs among the lowest in the industry. Mr. Bogles philanthropy reflected his belief that to whom much is given, much is expected. Bogle Eve Sherrerd 1956. At breakfast with a reporter in 1993, at a suburban Philadelphia restaurant near Vanguards headquarters, Mr. Bogle figured out that he would beat the $5.95 cost of the buffet by ordering from the menu. Mr. Bogle is the second financial titan from the region to die in the last three days. 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. Mr. Bogle was a best-selling author, beginning with Bogle on Mutual Funds: New Perspectives for the Intelligent Investor in 1993. . 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. He built the Vanguard Group on the belief that over the long term, most investment managers cannot outperform the broad market averages. 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. Anyone can read what you share. A few months later, he was back in the office, writing and speaking about issues of importance to mutual fund investors. View contact information: phones, addresses, emails and networks. Everything else pales by comparison. They had six children: daughters Barbara Bogle Renninger, Jean Bogle, Nancy Bogle St. John, and Sandra Bogle Marucci, and sons John C . 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 . 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 . Vanguard CEO Tim Buckley. 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. The thesis earned Mr. Bogle a top grade, and he graduated magna cum laude. 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.. 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. Mr. Bogle wasnt afraid to criticize his own index fund creation which he wrote may have grown too large. 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. Just find me a room. Everything else is incidental. Future industry growth can be maximized by a reduction of sales loads and management fees.. Andrew has the phone number (610) 649-0638 (Verizon Pennsylvania, Inc). The third result is Barbara Renninger age 30s in . At first, Mr. Bogle floundered, and his low grades in economics, his major, almost cost him his scholarship. As a subscriber, you have 10 gift articles to give each month. Make a life-giving gesture Now one of the worlds largest investment-management companies, Vanguard vies with BlackRock and Fidelity Investments for the title of biggest mutual-fund group. Tim Buckley is the current chief executive. Headstrong and impulsive, Mr. Bogle arranged a merger with high-flying investment managers in Boston. 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. 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. His twin brother David died in 1995. 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. 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). It costs $1,780 per month to rent two bedrooms in the zip code 19096, according to HUD's Office of Policy Development and . But Mr. Bogle became a harsh critic of the mutual fund industry in later years. When he had the heart transplant, it changed him dramatically. . Mr. Bogles response was to switch doctors. Yes (Sandra Bogle Marucci, Jean Bogle, Nancy Moore Bogle, Andrew Armstrong Bogle, Barbara Bogle Renninger, John Bogle Jr.) Dating: N/A: Profession : Investor, business magnate, and philanthropist: Net Worth . In investing, you get what you dont pay for.. He wore the same wool ties and suits forever, said son Andrew Armstrong Bogle. 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. John C. Bogle (1929- ) founded the mutual fund company Vanguard and is a leader in the mutual fund industry. "He was a tremendously intelligent, driven, and talented visionary whose ideas completely changed the way we invest. Andrew Renninger, Barbara B Renninger, and five other persons spent some time in this place. Mr. Bogle at the Vanguard campus in Malvern, Pa., in 2012. Use (610) 649-0638 to contact Scott with caution. These innovations, reviled and ridiculed at first, enabled millions of ordinary Americans to build wealth to buy a home, pay for college, and retire comfortably. John C. Bogle, 89, who revolutionized the way Americans save for the future, championed the interests of the small investor, and railed against corporate greed and the excesses of Wall Street, died of cancer Wednesday at his home in Bryn Mawr, his family confirmed. 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.. Center for Corporate Excellence Exemplary Leader Award, 2006. It sounds like toothpaste and beer.. Mr. Bogle, a resident of Bryn Mawr, PA, began his career in 1951 after graduating magna cum laude in economics from Princeton University. ", In 1976, Vanguard introduced the first index mutual fundFirst Index Investment Trustfor individual investors. Ian Mclellan. Mr. Bogle was named president of Wellington in 1967, and soon thereafter it merged with the Boston investment company Thorndike, Doran, Paine & Lewis. His greatest accomplishment, Mr. Bogle often said, was putting the mutual back in mutual funds. His most important innovation was the index fund. He had no desire to be ostentatious, and he didnt hang out with just investment titans. Cost is a handicap on the horse. Bill Falloon, an editor at John Wiley & Sons, remembers when Mr. Bogle visited the publishers Park Avenue office for a marketing strategy meeting about Mr. Bogles The Little Book of Common Sense Investing. Headstrong and impulsive, Mr. Bogle arranged a merger with high-flying investment managers in Boston. cakap ( Talk), cakap( Talk) : As a blogger, I have failed. Costs matter. We have 13 records for Andrew Renninger ranging in age from 25 years old to 58 years old. 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. Along the way, Mr. Bogle attracted his share of critics. 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. 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. 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. At Blair and Princeton, Bogle endowed the Bogle Brothers Scholarships, which enabled scores of budding scholars to further their education. Friday July 14, 2017 3:21 pm. "I loved Philadelphia, my adopted city that had been so good to me. /CNW/ - Vanguard announces the passing of John Clifton Bogle, founder of The Vanguard Group, who died today in Bryn Mawr, Pennsylvania. I thought there would be an exception for the companys founder, he said in 2012. Bogle was active in the investment industry. He married Eve Sherrerd in 1956. Mr. Bogle, who had struggled with a congenital heart defect and had several heart attacks, received a heart transplant in 1996. 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 wore the same wool ties and suits forever, said son Andrew Armstrong Bogle. 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. When traveling, Mr. Bogle usually took the train or flew coach. 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. 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. When he was 37, his doctor advised him to retire. John Bogle was an investor, business magnate, and philanthropist best known as an originator and retired chief of The Vanguard Group. 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. Mr. Morgan had read Mr. Bogles senior thesis on mutual funds. For more than 20 years, he donated half his annual income to philanthropic causes, particularly those institutions that helped develop his mind and form his character. 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