He received honorary degrees from a dozen universities, including his alma mater, which also bestowed on him its highest accolade, the Woodrow Wilson Award, for distinguished achievement in the nations service.. . When typing in this field, a list of search results will appear and be automatically updated as you type. Along the way, Vanguard, which Mr. Bogle launched in 1974, became a titan in the financial-services industry, with 16,600 employees and over $5 trillion in assets by the end of 2018, and Mr. Bogle earned a reputation as not only an investing sage but a maverick whose integrity and old-fashioned values set an example that many admired and few could match. John C. Bogle, then chairman and president, Wellington Fund in 1974. He was often described as a "fierce competitor" on the court and course, a demeanor he also maintained on the job. The following month, Mr. Bogle underwent heart transplant surgery. 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. 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. It seems only a matter of time until index mutual funds cross the 50 percent mark. Mr. Bogle in an undated photo. Said Stengel: I often felt compelled to leave an extra tip so the waitress wouldnt feel shortchanged.. Includes Address (4) Phone (7) Email (4) See Results. Were never allowed to use the word product, he told an interviewer in 1995. In investing, you get what you dont pay for.. Introducing the center to the nation with Mr. Bogle as chairman was a huge advantage, said Joe Torsella, the centers president at the time and now Pennsylvania treasurer. Early on, he served as chairman of the board of governors of the Investment Company Institute from 1969 to 1970. They had 12 grandchildren and six great . He received honorary doctorate degrees from Villanova University, Trinity College, Georgetown University, Princeton University, the University of Delaware, University of Rochester, New School University, Susquehanna University, Eastern University, Widener University, Albright College, The Pennsylvania State University, Drexel University, and Immaculata University. 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. Im contributing to society. At Blair, Mr. Bogle chaired the board of trustees, chose the headmaster, and helped finance the construction of several buildings. 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. 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 had his first heart attack in 1960, when he was only 30, and his heart stopped numerous times thereafter. Select this result to view Barbara A Renninger's phone number, address, and more. With his new pump, Mr. Bogle experienced an adolescent surge of vitality that left associates panting to keep up. But Mr. Bogle eschewed the product- and marketing-driven thinking of much of the industry that has spread with the boom in mutual fund sales this decade. 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 . Bogle was sought after in the corporate community. He popularized and became the leading proponent of indexing, the practice of structuring an investment portfolio to mirror the performance of a market yardstick, like the Standard & Poors 500 stock index. If youre honest with me, Ill support you fully. . But he applied himself and slowly mastered the demands. He married Eve Sherrerd in 1956. Vanguard. He had no desire to be ostentatious, and he didnt hang out with just investment titans. Mutual fund companies, he said, were all but immoral for accepting such fees. In December 1949, while leafing through Fortune, he happened upon an article about the embryonic mutual-fund industry, and Mr. Bogle developed the topic for his senior thesis. Now one of the worlds largest investment-management companies, Vanguard vies with BlackRock and Fidelity Investments for the title of biggest mutual-fund group. In addition to squash, Mr. Bogle enjoyed tennis and golf, sailing, and summering at Lake Placid, N.Y. Also known as Barbara J Renninger, Barb Rush. Center for Corporate Excellence Exemplary Leader Award, 2006. Bogle, then 76, had written his fifth book. Mr. Bogle enjoyed helping the ordinary man of modest means make money. Fixed Income Analysts Society' Hall of Fame, 1999. His grandfather, a prosperous merchant, founded a company that became part of the American Can Co., and Mr. Bogles early years in Montclair, N.J., were affluent. Barbra Bogle. He was like the last honorable man, a complete straight-shooter, said Rick Stengel, former managing editor of Time and former president of the National Constitution Center, where he worked closely with Mr. Bogle, who then chaired the centers board. He always went the extra mile to make sure there wasnt a single person who could not understand what he was saying.. AwardsIn 2004, Time magazine named Mr. Bogle one of "the world's 100 most powerful and influential people" and Institutional Investor magazine presented him with its Lifetime Achievement Award. We've listed 14 related ones in 8 states. Residents of 19096 pay approximately $1,780 a month for a 2-bedroom unit. John Bogle, founder of the Vanguard Group Inc., was chairman of the board of the National Constitution Center in 2006 when he stood beside one of his favorite signers, Alexander Hamilton, far left. Most recently, he published Stay the Course: The Story of Vanguard and the Index Revolution (Wiley, 2018). Mr. Bogle. Three index fund managers dominate the field with a collective 81 percent share of index fund assets: Vanguard has a 51 percent share; BlackRock 21 percent; and State Street Global 9 percent. Our challenge at the time was to build, out of the ashes of a major corporate conflict, a new and better way of running a mutual fund complex, Mr. Bogle said in 1985. This was our time to talk to each other and find out what was going on in each others lives, Andrew Bogle recalled. Jack operated at only two speeds, as fast as is humanly possible and stop, said Paul Miller, the late private investor and founding partner of Miller Anderson & Sherrerd, who was a close friend of Mr. Bogles for decades. from 8 AM - 9 PM ET. Headstrong and impulsive, Mr. Bogle arranged a merger with high-flying investment managers in Boston. Log in or sign up for Facebook to connect with friends, family and people you know. Jack could have been a multi-billionaire on a par with Gates and Buffett, said William Bernstein, an Oregon investment manager and author of 12 books on finance and economic history. 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. National Council on Economic Education Visionary Award, 2007. 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. Refusing to surrender, Mr. Bogle persuaded the board of Wellington to split from the management company that canned him and appoint him to administer the funds at cost, thereby saving a bundle in fees. Popular Networth. He was 89. Vanguard managed its indexed mutual funds at cost, charging investors fees that were far lower than those of virtually all of its rivals. When he was 37, his doctor advised him to retire. You want to be average and then win by virtue of your costs, Mr. Bogle said. During our . Andrew has been found in 11 states including New York, Colorado, Arizona, Michigan, Pennsylvania. . "We are more than a mere industry," he insisted in a 1987 speech before the National Investment Company Services Association. Barbara Bogle is a resident of PA. Lookup the home address and phone 6106490638 and other contact details for this person. Mr. Bogle characterized his pugnacious relationship with the financial industry as a lovers quarrel. His mission, he said, was simple: to return capitalism, finance, and fund management to their roots in stewardship. Bogle Eve Sherrerd 1956. Mr. Bogle was named president of Wellington in 1967, and soon thereafter it merged with the Boston investment company Thorndike, Doran, Paine & Lewis. Bogle with Ed Rendell (left) and President Bill Clinton (right) in Philadelphia about 20 years ago. He can be reached via e-mail christinarenninger@att.net. He kept his wits sharp by daily attacking the New York Times crossword puzzle, which he was known to complete in less than 20 minutes. A rift developed between them, which contributed to Mr. Bogles failure to persuade Vanguards board of directors to allow him to stay on past the traditional retirement age of 70. Mr. Bogles philanthropy reflected his belief that to whom much is given, much is expected. He was 89. He was like a surrogate father to me, said former headmaster Chan Hardwick. Bogle a Montclair, New Jersey native launched Vanguard on May 1, 1975. Mr. Bogle built Vanguard, which is based in Malvern, Pa., on a cornerstone belief that was anathema to most mutual fund companies: that over the long term, most investment managers cannot outperform the broad market averages. He wrote articles, speeches, and books, answered questions from investors, granted interviews to reporters, and continued to cultivate and encourage members of Vanguards crew while keeping a three-person staff busy. 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. 22:26. Mr. Bogle wasnt afraid to criticize his own index fund creation which he wrote may have grown too large. He was a true American hero.. If the jockey carries a lot of extra pounds, its very tough for the horse to win the race.. Headstrong and impulsive, Mr. Bogle arranged a merger with high-flying investment managers in Boston. Disengaging himself from guiding Vanguard and forging a new role for himself was challenging for Mr. Bogle, who was dismayed by the rift that developed between him and the man he had groomed to succeed him, John J. Brennan. More than a successful businessman, Mr. Bogle was a capitalist with a soul. He studied economics at Boston's Harvard University and in his final year of university considered following in his parents' footsteps and pursuing a career in medicine. 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. Mr. Bogle was treated for arrythmogenic right ventricular dysplasia, a congenital heart defect, for more than 30 years, and had at least six heart attacks, the first in 1960. 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. He made people aware of expenses, and told them that costs come right out of the bottom line.. On file we have 14 email addresses and 25 phone numbers associated with Barbara in area codes such as 772, 402, 531, 717, 843, and 7 other area codes. FUSE Research Network Award for Lifetime Impact and Commitment to Investors and Investment Management Consultants Association Richard J. Davis Ethics Award, 2010. 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.". Required fields are marked *. Award for Professional Excellence from the Association for Investment Management and Research, 1998. Im contributing to society. 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. A champion of the individual investor, Mr. Bogle is widely credited with helping to bring increased disclosure about mutual fund costs and performance to the public. 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. Mr. Bogle readily took swipes at the press for lauding fund managers who temporarily got a hot hand, and for focusing heavily on a funds quarterly performance. 2023. janur 14. As of December 31, 2018, Vanguard managed $4.9 trillion in global assets. When traveling, Mr. Bogle usually took the train or flew coach. Din Merican, Your email address will not be published. The couple 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. We could choose our own way of contributing, whether it be time or money or just our thoughts, but we knew that the default option is that you're going to give back.. He never failed to mention, in speech after speech and talk after talk, that money managers had failed miserably to earn their high fees, said Miller, the investment manager and longtime friend. Price: $3.60. The firm, headquartered in Valley Forge, Pennsylvania, offers more than 413 funds to its more than 20 million investors worldwide. 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. 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