I want to take a moment to pay tribute to John Bogle, the legendary founder of the Vanguard Group and the inventor of the index fund.
John Bogle, who died last week, taught me more about the wisdom of wealth building than anyone else.
Bogle had a simple, though radical, message: buy a diversified portfolio of low cost funds and stay the course, regardless of the market’s gyration or your fearful emotions.
“The mutual fund business is where you get what you don’t pay for,” he said.
Amen to that. And history has proven him right. Over the past 15 years, passive index funds have outperformed almost 90% of actively managed funds.
“If all investors had heeded his ideas,” declared Warren Buffet, another legendary financier, “they would be hundreds of billions of dollars better off than they are now.”
It took me a few years and some painful losses before I discovered Bogle’s wisdom. I’m beyond grateful I did. For over two decades, despite 9 market crashes (when the market falls at least 20%), I’ve done quite well.
From the bottom of my heart, I say thank you, John Bogle. You left the world a better place.
What teachers are you grateful for in your life? Leave me a comment below.
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