(John Clifton Bogle) [key]
, 1929–2019, American financial executive, b. Montclair, N.J., grad. Princeton (1951). Going to work for Walter Morgan's Wellington Fund, he became CEO in 1967. When the firm performed poorly in the early 1970s, Bogle was fired (1974) and founded the Vanguard Group of Investment Companies. In 1976 he started the first index fund for individual investors, now the Vanguard 500 Index Fund, which seeks to mirror the performance of the markets rather than trying, as actively managed funds do, to beat them. The firm's low-cost index funds became popular, and the company grew to become a dominant force in asset management. Bogle stepped down as chief executive in 1996. When conflict with his successor led to his retirement as chairman in 1999, he moved to the Bogle Financial Markets Research Center. He wrote several books, including Common Sense on Mutual Funds
(1999), The Battle for the Soul of Capitalism
(2005), and The Little Book of Common Sense Investing
See his memoir, Stay the Course (2018); studies by R. Slater (1996) and L. Braham (2011).
The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.
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