Putting the Shareholder First, A Lifetime Ideal: A Conversation with John Bogle
15 Pages Posted: 14 Oct 2010
Date Written: 2006
Over the course of his fifty-five-year career in the investment industry, John C. Bogle, founder and former chairman of The Vanguard Group, redefined investing for the individual investor and became known as the conscience of the mutual fund industry. Concerned since his undergraduate days at Princeton University about the impact of costs on the returns that investors receive, Mr. Bogle turned a career setback in the mid-1970s into an opportunity to put his early beliefs into action. Within the space of three years, he had established Vanguard, the first mutual fund company to be owned by its fund shareholder clients; created the first index mutual fund; and pioneered the concept of the modern no-load mutual fund.
In April 2006, Mr. Bogle talked with members of the Journal of Investment Consulting Editorial Advisory Board about the experiences that shaped his philosophy, his views on the costs of financial intermediation, and his recommendations for improving corporate governance.
Keywords: John Bogle, Vanguard
JEL Classification: E21, G10, G11
Suggested Citation: Suggested Citation