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RIP Jack Bogle


Corcaigh

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One of the best comments I've seen on this:

 

 

Warren Buffet on Bogle from his Investor letter two years ago:

 

Quote

If a statue is ever erected to honor the person who has done the most for American investors, the hands down choice should be Jack Bogle. For decades, Jack has urged investors to invest in ultra-low-cost index funds. In his crusade, he amassed only a tiny percentage of the wealth that has typically flowed to managers who have promised their investors large rewards while delivering them nothing – or, as in our bet, less than nothing – of added value. In his early years, Jack was frequently mocked by the investment-management industry. Today, however, he has the satisfaction of knowing that he helped millions of investors realize far better returns on their savings than they otherwise would have earned. He is a hero to them and to me.

 

http://www.berkshirehathaway.com/letters/2016ltr.pdf

 

Not much I can add to those two comments.
 

RIP

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His lessons are lost on many. I have a lot of young guys at work on Robinhood "playing the market" with their fancy puts and shorts—and routinely losing money over time. No concept of the impact of taxes and fees on their performance. No concept of bothering to read a 10-K, shareholder letter, or annual report. 

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6 hours ago, Yohan said:

 

Been a Boglehead for a while, got my kids (21 & 18) to read Bogleheads Guide to Investing, and had them read some of @techboy's posts when they needed more clarity on investing. (Sound advice that I couldn't give them)

 

I'm glad my writings here served some purpose beyond annoying @zoony.

 

Though, to be fair, that would have been enough.😁

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