A few months later, he was back in the office, writing and speaking about issues of importance to mutual fund investors. Barbra Bogle. These innovations, reviled and ridiculed at first, enabled millions of ordinary Americans to build wealth to buy a home, pay for college, and retire comfortably. Inspired by the 1798 Battle of the Nile, during which Lord Horatio Nelson sank the French fleet, snuffing Napoleons dream of world conquest, Mr. Bogle chose the name Vanguard after Nelsons flagship. If youre honest with me, Ill support you fully. . Bogle, who had struggled with a congenital heart defect and had several heart attacks, had received a heart transplant in 1996. Motivated by a mix of pragmatism and idealism, Mr. Bogle was regarded by friends and foes alike as the conscience of the industry and the sheriff of Wall Street. Among his numerous other awards and honors were: Civic workAn avid booster of Philadelphia and the surrounding area, Mr. Bogle was active in civic affairs. Mr. Bogle had his first heart attack in 1960, when he was only 30, and his heart stopped numerous times thereafter. In addition to squash, Mr. Bogle enjoyed tennis and golf, sailing, and summering at Lake Placid, N.Y. Mr. Bogle and Vanguard again broke from industry tradition in 1977, when Vanguard ceased to market its funds through brokers and instead offered them directly to investors. 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. 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. They sang patriotic songs (Lee Greenwoods God Bless the USA was a favorite), and Mr. Bogle raised a toast to the country of which he was so proud. He said of the economy: The disparity in income is deeply regrettable. John Clifton "Jack" Bogle (May 8, 1929 - January 16, 2019) was an American investor, business magnate, and philanthropist.He was the founder and chief executive of The Vanguard Group, and is credited with creating the index fund.An avid investor and money manager himself, he preached investment over speculation, long-term patience over short-term action, and reducing broker fees as much as . Mr. Bogle was incapable of retirement. We've listed 14 related ones in 8 states. I established my roots there, finding even more unimaginable diamonds," he wrote in one of his books. Mr. Bogles father, an improvident charmer, was ill-equipped to cope. Jan 16, 2019 jcbadmin. Although he played no role in managing Vanguard after 2000, he continued to show up every weekday, usually in suit and tie and shined shoes, to discharge his duties as president of the Bogle Financial Markets Research Center. Lived In Willingboro NJ. The second best result is Barbara A Renninger age 70s in Lewistown, PA. They had 12 grandchildren and six great . From the station or airport, he walked to his destination rather than taking a cab, or hailed a cab rather than riding in a limo, even in his 70s. At Blair, Mr. Bogle chaired the board of trustees, chose the headmaster, and helped finance the construction of several buildings. They have also lived in Mc Veytown, PA Barbara is related to Trudy Kay Renninger and Russel H Renninger as well as 3 additional people. There will be things youll do that youll wish you hadnt, and things you wont do that youll wish you had. FUSE Research Network Award for Lifetime Impact and Commitment to Investors and Investment Management Consultants Association Richard J. Davis Ethics Award, 2010. 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. When he was 37, his doctor advised him to retire. At first, Mr. Bogle floundered, and his low grades in economics, his major, almost cost him his scholarship. 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. John C Bogle, who founded the Vanguard Group of Investment Cos in 1974 and built it into a giant mutual fund company, with $4.9 trillion in assets under management today, died Wednesday in Bryn . John Clifton Bogle early realized the value of a penny. California residents do not sell my data request. Vanguards advantage came from the unusual corporate structure that Mr. Bogle adopted. Speculation (2012); The Little Book of Common Sense Investing: 10th Anniversary Edition (2017), and, Stay the Course: The Story of Vanguard and the Index Revolution (2018). Andrew has been found in 11 states including New York, Colorado, Arizona, Michigan, Pennsylvania. They 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. Vanguards consistent growth produced riches for Mr. Bogle, but not to the extent that another ownership structure might have done. Since 1984, less than half of the actively managed mutual funds that invest in a broad array of American stocks have outperformed the Vanguard 500 Index Fund, one of the worlds largest, with more than $441 billion in assets under management, according to Vanguard. He was called a communist, a Marxist, a Bolshevik, a Calvinist scold and zealot, a holier-than-thou traitor and subversive who was undermining the pillars of capitalism with un-American rants. Mr. Bogle had his first heart attack in 1960, when he was only 30, and his heart stopped numerous times thereafter. Mr. Bogle left the Vanguard board and set up the Bogle Financial Markets Research Center, a financial research institute, in order, he said, to let the controversy die away in a gracious way., Mr. Brennan was succeeded by F. William McNabb III, who told Mr. Sommer in 2012 that people at Vanguard revere Jack Bogle.. His daughter Barbara Bogle Renninger served on the board of the Gesu School in North Philadelphia, where she was also a volunteer math tutor; his son Andrew was a patron of Robin Hood, a philanthropic organization established by investment bankers and hedge-fund managers to alleviate poverty in New York City. His greatest accomplishment, Mr. Bogle often said, was putting the mutual back in mutual funds. His most important innovation was the index fund. Mortimer "Tim" Buckley, 48, was born in Boston, the child of a nurse and a surgeon. When his children were growing up, he was almost always home for dinner. Vanguard. I wanted to send a message that our battle-hardened Vanguard Group would be victorious in the mutual fund wars, Bogle wrote in Enough, and that our vanguard would be, as the dictionary says, the leader in a new trend. . National Council on Economic Education Visionary Award, 2007. Another family rite revolved around the Fourth of July, a holiday that evoked Mr. Bogles strong sense of patriotism. A private service will be held next week. Even as he became more prominent, he did not change within the family. He was 89 years old. In short order, Morgan became Mr. Bogles mentor. More than a successful businessman, Mr. Bogle was a capitalist with a soul. 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. From there, he went to Princeton, which offered him a full scholarship and a job waiting tables in the dining hall. Dianne Barb Bogle (Dianne Barb Bogle) See Photos. 139 views, 7 likes, 0 loves, 2 comments, 1 shares, Facebook Watch Videos from American Indian College Fund: It was an honor to present College Fund's Billapaache Award to the founder of Vanguard. Most recently, he published Stay the Course: The Story of Vanguard and the Index Revolution (Wiley, 2018). But Mr. Bogle became a harsh critic of the mutual fund industry in later years. 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. At Blair and Princeton, Bogle endowed the Bogle Brothers Scholarships, which enabled scores of budding scholars to further their education. In 1991, he was named by the chairman of the Securities and Exchange Commission, Richard C. Breeden, to the Market Oversight and Financial Services Advisory Committee. Mr. Bogle pioneered low-cost, low-fee investing that was ridiculed at first, but would enable millions of ordinary Americans to build wealth. And then he stretched out and put his head on the back rest., Before nodding off, Mr. Bogle issued instructions: If anybody wonders what Im doing, tell them Im dead.. 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. When he had the heart transplant, it changed him dramatically. Required fields are marked *. 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. Mr. Bogle had legendary status in the American investment community, largely because of two towering achievements: He introduced the first index mutual fund for investors and, in the face of skeptics, stood behind the concept until it gained widespread acceptance; and he drove down costs across the mutual fund industry by ceaselessly campaigning in the interests of investors. Although he played no role in managing Vanguard after 2000, he continued to show up every weekday, usually in suit and tie and shined shoes, to discharge his duties as president of the Bogle Financial Markets Research Center. They 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 had a chance to chat with Barbara Bogle Renninger, daughter of John Bogle, the founder of Vanguard Group during our 2018 Flame of Hope Gala. 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. He was a true American hero.. 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.. On file we have 27 email addresses and 19 phone numbers associated with Andrew in area codes such as 607, 609, 610, 336, 623, and 8 other area codes. We have 13 records for Andrew Renninger ranging in age from 25 years old to 58 years old. His twin brother David died in 1995. 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. He took chances on people because someone took a chance on him, said Stengel. 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 . In 1996, surgeons at Hahnemann University Hospital replaced his faulty heart with a strong one, ending a 128-day wait in the hospital. Most recently, he published Stay the Course: The Story of Vanguard and the Index Revolution (Wiley, 2018). If the jockey carries a lot of extra pounds, its very tough for the horse to win the race.. Mr. Bogle outlived three pacemakers, and kept a gym bag with a squash racket by his desk. It declared to the outside world that we were national and bipartisan, and aspired to the highest level of excellence., Mr. Bogle served on numerous boards during his career, including the board of governors of the Investment Company Institute, which he chaired in 1969 to 1970. Yes (Sandra Bogle Marucci, Jean Bogle, Nancy Moore Bogle, Andrew Armstrong Bogle, Barbara Bogle Renninger, John Bogle Jr.) Dating: N/A: Profession : Investor, business magnate, and philanthropist: Net Worth . He worked his way through Blair Academy and Princeton University as a waiter and also managed Princeton's athletic ticket office. They had 12 . Today, index funds account for more than 70% of Vanguard's $4.9 trillion in assets under management; they are offered by many other fund companies as well and they make up most exchange-traded funds (ETFs). John C. Bogle, the founder of Vanguard Group and a fierce advocate for investors' rights who revolutionized retirement savings, has died at his home in Bryn Mawr at the age of 89, write Jason Zweig and Sarah Krouse for The Wall Street Journal.. Stay the Course, the last of Jack Bogle's 14 books, is available in hard copy and Kindle format on Amazon. So he walked into this little office and pushed a chair over so its back was on the floor, Falloon recalls. Bogle was active in the investment industry. Miss Bogle, a teaching assistant at the Brearley School in New York, graduated from the Shipley School in Bryn Mawr, Pa., and with the class of '83 from Trinity College . Bogle wrote 12 books, selling over 1.1 million copies worldwide. August 29, 2022. Now one of the worlds largest investment-management companies, Vanguard vies with BlackRock and Fidelity Investments for the title of biggest mutual-fund group. Mr. Bogles children recalled growing up in a drafty house in Haverford where the thermostat was set low in winter and they piled into their parents bedroom on steamy summer nights because it was the only spot with an air conditioner. Din Merican, Your email address will not be published. He had no desire to be ostentatious, and he didnt hang out with just investment titans. Press Clippings. Weary from the train trip, Mr. Bogle asked where he could catnap. In addition to his son and daughter, Mr. Bogle is survived by his wife, the former Eve Sherrerd, whom he married in 1956; children Jeanne Bogle England, Nancy Bogle St. John, Sandra Hipkins Bogle, and John C. Bogle Jr.; and at least 12 grandchildren. Barbara has been found in 8 states including Texas, Nebraska, Florida, South Carolina, Pennsylvania. "Our challenge at the time," Mr. Bogle recalled a decade later, "was to build, out of the ashes of major corporate conflict, a new and better way of running a mutual fund complex. He always went the extra mile to make sure there wasnt a single person who could not understand what he was saying.. Your email address will not be published. When traveling, Mr. Bogle usually took the train or flew coach. Mr. Bogles response was to switch doctors. Mr. Bogles net worth was generally estimated at $80 million last year. Reflections on Investment Illusions, Capitalism, "Mutual" Funds, Indexing, Entrepreneurship, Idealism, and Heroes (2011); The Clash of the Cultures: Investment vs. Much of his own altruism stems from the fact that he was a scholarship kid., It will surprise no one who knew Jack that he directed his support to financial aid and promoting community service, said former Princeton president Shirley Tilghman. Its about being a good husband, a good father, a good colleague, a good member of the community. Find the obituary of John Clifton Bogle (1929 - 2019) from Bryn Mawr, PA. Leave your condolences to the family on this memorial page or send flowers to show you care. Mr. Bogle wasnt afraid to criticize his own index fund creation which he wrote may have grown too large. Ian Mclellan. A true giant of the industry, Bogle was virtually the creator of index mutual funds and ETFs, and passive investing in general. His zeal for his mission of helping investors get a fair shake was legendary. You want to be average and then win by virtue of your costs, Mr. Bogle said. Costs matter. When we were growing up, we were told that were very fortunate in so many ways and that we were expected to give back, Andrew Bogle recalled. My dad may have seemed like a hard-charging businessman, but underneath there was real emotion and care and concern and empathy, said daughter Barbara. 3. Early on, he served as chairman of the board of governors of the Investment Company Institute from 1969 to 1970. The Bogles lost their home and were forced to move in with relatives. 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. 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. There was no bed or couch, he was informed. Weary from the train trip, Mr. Bogle asked where he could catnap. When he was 37, his doctor advised him to retire. While Mr. Bogle may have been cheap in the transactions of daily life, he was remarkably generous in a grand way. Everything else is incidental. Future industry growth can be maximized by a reduction of sales loads and management fees.. 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've listed 14 related ones in 8 states. He worked tirelessly toward that goal, and his message never changed with the investing climate. John Bogle has changed a basic industry in the optimal direction, Paul A. Samuelson, the 1970 Nobel laureate in economics, wrote in a foreword to Bogle on Mutual Funds (1993). He was literally reborn, and he really appreciated the chance of having a second go at life.. He revered language, history, poetry, and classical wisdom, and frequently amazed and delighted people by reciting long passages of verse. It was an experiment in which mutual funds would operate at cost and independently, with their own directors, officers, and staffa radical change from the traditional mutual fund corporate structure, whereby an external management company ran a fund's affairs on a for-profit basis. I do not believe that such concentration would serve the national interest, he wrote. 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