John Bogle, retired chairman and founder of Vanguard, is commonly referred to as the “Grandfather of Index Funds.”
Although he didn’t invent these investments, his tireless efforts at introducing them to the general public way back in 1976 is generally regarded as the primary cause for their widespread popularity today.
This trend of investing in low cost index funds, the backbone of the Coffeehouse philosophy, continues to grow, as indicated by the enormous inflow of money into Vanguard’s family of funds this past year.
This past October, “The Clash of Cultures – Investment vs. Speculation” was published. Written by Mr. Bogle, he details the pervasive culture of speculation that has creeped into our world of “investing.”
John Bogle’s brash and straightforward style of addressing these investing issues confronting our society – is refreshing. In it, he writes. . .
“Today’s dominance of a culture cased on short-term speculation instead of long-term investment has major implications that go far beyond the narrow confines of our financial sector. It distorts our markets and ultimately distorts the way our business are run.”
I know you will enjoy the book as I did, and always refreshing to come across new work that continues to advocate the principles found here at the Coffeehouse.
Thank you Jack Bogle!