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John C. Bogle: Renaissance Money Manager for the People and More

John C. Bogle: Renaissance Money Manager for the People and More

Ralph Nader

The accolades were uniformly respectful for the honest, innovative, and unyielding defender of shareholder/investor rights – the late John C. Bogle – the founder of the now giant Vanguard Group of mutual funds. Writers took note of his pioneering low-cost, low-fee investing and mutual funds tied to stock-market indices. Index funds, tied to such indices as the S&P 500, now total trillions of dollars.

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Reminds me of my neighbor who was one of the “boat people” who escaped from Viet Nam after the fall of Saigon. When their boat’s engine failed halfway between Viet Nam and Indonesia they were boarded by what she describes as “friendly pirates” who robbed them of everything they owned but towed their boat to Indonesia. Had they been boarded by unfriendly pirates they would have been robbed and murdered.

By the same token, in an economy that has been increasingly rigged in favor of the 1% at the expense of the 99%, the bar is very low for what qualifies as “benevolent”.

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I am confounded by Tom and Ray’s comments. 80 million is a far cry from 2 billion which many hedgefund managers, and other mutual funds CEO’s billionaires are worth.

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Well I agree with you Tom with all that you said except I don’t really understand your first sentence. Yeah 80 million is still alot of monies but didn’t he give good value to many of his mutual fund investor for little fees and spread his wealth in comparison
to Bezo or Gates. I am going in the woods.

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Can’t understand the point of these negative contrarian comments. Nader here is just trying to summarize, based on facts, the life of this individual, from the perspective of his contribution to the public’s interest. The thesis of the article is no larger than that. So, don’t see the reason why go in so many directions.

Concurrent with the rise of Vanguard the best Congress money can buy was dismantling FDR’s New Deal financial sector regulations…regulations that did more by far to benefit the “people” Nader refers to than Bogle or any other “benevolent” capitalist ever did.

Yes, Bogle’s recent article did address concentrated control of index funds, one of the many negative aspects of the destruction of the New Deal regulations. Unfortunately that horse escaped the barn long before the article appeared.

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Clinton, who was “republican lite” began the dismantling of Glass/Steagal

The dismantling of the New Deal financial regulations started with allowing securitization of mortgages in 1978 sans any objective arbiter of risk, accelerated during the Reagan years, with Clinton indeed signing more New Deal death warrants than any other POTUS.

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To an entry level investor a “no load” fund is sometimes a godsend. And that would make the fund manager something of a hero.
The rest is just cheap whiskey. (venture capitalism)

Mordant humor … The only thing left to reach for.

Presenting: John Bogle, Renaissance Man, and husband telling his wife to never again take money from his wallet.