My 401(k) salutes you, sir!
John Bogle was ever involved with the ghouls of Wall Street that wiped put middle-class America. an honest financial guy. We should all say a prayer for this good man
If that is so, too bad the wire service couldnât find a less evil villain floor lit photograph
Meanwhile, we have this clown advising the other clown on economic issues.
Normally on any given day, I would not have foot to stand on to say this. But I could do a far better job then smiley. I checked with my cat, the eldest and he agreed, he could do better.
My company 401k switched from Vanguard (which was making money and everybody loved) to the other leading competitor (starts with an F) because âwe thought a change would be goodâ, whereupon we immediately lost money and had higher fees. Go figure. Somebody got a kickback.
I have stayed with Vanguard since, some of the lowest fees in the business. It pays off. Invest until it hurts (I started in my late 20s with my first ârealâ job) for it will payoff in your 50s- 60s when another recession hits and they fire all the old farts. Vogel was a genius.
Yeah. One of the honest ones. Without people like him, the Street would be no more than an insiderâs racket.
Bogle on Trump:
âMy feeling is that anything that increases the gap in wealth in the U.S. is bad for our society and bad for markets. Anything that increases racial division here is bad for our economyâŚcutting way back on immigration is extremely harmful. People come into this country, they make it grow, they contribute to our GDP.â
Probably watched the GOP vote to lift Russian sanctions earlier today, clutched his chest, and pitched forward.
I know I nearly didâŚ
We drink a shit-tonne of his Chardonnay ($7.99/bottle at Total Wine).
Weâll drink some more in his honor.
Thank you John Bogle. Rest in peace.
Ah, Vanguard. IIRC thatâs the mutual fund that lost 3/4 of the money in my IRA and then kicked me out â for no longer having the minimum investment!
The head of the Vanguard Group and all of its suits got bonuses that year.
Thereâs been NO broadly diversified index fund find thatâs lost 75% of its value, so if you really lost 75% of a retirement account, thatâs on you and not Vanguard for taking a risk on going with an individual stock or some other type of known-to-be-risky investment.
Vanguard pioneered low-fee, passive index funds. Bogle was one of the few Good Guys on Wall Street, because he called out the folly of actively-managed (high fee / lower overall returns) funds and forced the industry to not gouge the customer on BS fees.
He arguably did more for the middle class worker/investor than any other businessman in the financial industry in the last generation.
Bogle was a genuine hero for the American middle class. It is really hard to overstate how important his low-cost investments for the masses have been over the past few decades. Itâs true that today there are various options around for low-fee index-fund investing. But would any of them exist in their current form if not for Bogle? I doubt it. Vanguard was the vanguard. This man helped millions of middle class Americans save for retirement and college and so on without forking over huge portions of their savings to rich guys on Wall St. An absolute giant.
I once worked at a company whoâs 401k offering (notVanguard managed) did have some Vanguard funds. The fees charged by notVanguard on the Vanguard funds were higher than the fees Vanguard charged themselves. Since the value added by notVanguard was nowhere near the value of the Vanguard service it was simply price gouging.