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. 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. Born: 8-May-1929 Birthplace: Montclair, NJ Died: 16-Jan-2019 Location of death: Bryn Mawr, PA Cause of death: Cancer - Throat. Mr. Bogle is survived by his wife Eve, daughters Barbara Bogle Renninger (Scott), Jean Bogle, Nancy Bogle St John (Gordon), and Sandra Bogle Marucci (Buddy), sons John Clifton Bogle Jr . 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. While Mr. Bogle was facile with numbers, he was much less interested in counting than in what counts, and his intellectual range was broad. 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. But the Great Depression eventually erased the family fortune. Like Perelman, Mr. Bogle carved a remarkable path. Im contributing to society. . Costs matter. 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 . Daughter: Nancy Moore St. John Daughter: Sandra Hipkins Bogle Marucci Even as he became more prominent, he did not change within the family. Most recently, he published Stay the Course: The Story of Vanguard and the Index Revolution (Wiley, 2018). View the latest Wiki of John Bogle also find Net Worth, Age, Height & More. When he was 37, his doctor advised him to retire. After giving up the chief executive title to his handpicked successor, John J. Brennan, Mr. Bogle openly disagreed with several of Mr. Brennans decisions. John Bogle has changed a basic industry in the optimal direction, the Nobel laureate Paul A. Samuelson wrote in a foreword to Mr. Bogles book Bogle on Mutual Funds, published in 1993. Mr. Bogle, a chipper and unpretentious man who invited everyone to call him Jack, was founder and for many years chairman of the Vanguard Group, the Malvern-based mutual-fund company, where he pioneered low-cost, low-fee investing and mutual funds tied to stock-market indexes. 22:26. His greatest accomplishment, Mr. Bogle often said, was putting the mutual back in mutual funds. His most important innovation was the index fund. It seems only a matter of time until index mutual funds cross the 50 percent mark. 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. In short order, Morgan became Mr. Bogles mentor. His greatest accomplishment, Mr. Bogle often said, was putting the mutual back in mutual funds. His most important innovation was the index fund. Its about being a good husband, a good father, a good colleague, a good member of the community. When typing in this field, a list of search results will appear and be automatically updated as you type. Mr. Bogle especially loved to write. John C. Bogle, then chairman and president, Wellington Fund in 1974. He told me the most important thing in a relationship is trust, and trust is based on honesty. /CNW/ - Vanguard announces the passing of John Clifton Bogle, founder of The Vanguard Group, who died today in Bryn Mawr, Pennsylvania. He was just as comfortable, if not more so, with someone whose cab he happened to get into, talking to people in the subway or to a waiter at the Princeton Club. Barbara has been found in 8 states including Texas, Nebraska, Florida, South Carolina, Pennsylvania. He was also a fellow of the American Philosophical Society and the American Academy of Arts and Sciences. 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. 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. He was 89 years old. John Clifton Bogle, founder of The Vanguard Group, died on January 16, 2018 in Bryn Mawr, Pennsylvania. In an op-ed for the Wall Street Journal in 2018, he warned that the concentration of ownership created by indexing firms presented a threat to the markets. John C. Bogle in 2017. He was just as comfortable, if not more so, with someone whose cab he happened to get into, talking to people in the subway or to a waiter at the Princeton Club. But he applied himself and slowly mastered the demands. There was no bed or couch, he was informed. Fixed Income Analysts Society' Hall of Fame, 1999. He was often described as a "fierce competitor" on the court and course, a demeanor he also maintained on the job. 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. The superior performance of the Vanguard funds attracted investors and assets in droves. Dianne Barb Bogle (Dianne Barb Bogle) See Photos. He genuinely liked talking to people and hearing their views. That he was correct in calling them the croupiers at the gambling table did not endear him to the profession., Simply put, Jack cared, said William Bernstein. 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. 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 have also lived in Mc Veytown, PA Barbara is related to Trudy Kay Renninger and Russel H Renninger as well as 3 additional people. Press Clippings. Daughter: Barbara Josephine Bogle Renninger Daughter: Jean Sherrerd Bogle Son: John Clifton Bogle, Jr. John Clifton Bogle early realized the value of a penny. Despite the heavy demands on his time, Mr. Bogle put his family first. No-Load Mutual Fund Association's first Outstanding Achievement Award, 1986. They had 12 grandchildren and six great . In early 1965, when Mr. Bogle was only 35, Morgan anointed him his successor. Another institution that benefited tremendously from Mr. Bogles involvement was the Constitution Center, whose board he chaired from 1999 to 2007. Raymond G. Perelman, the master deal-maker and philanthropist who gave away more than $300 million to the University of Pennsylvania and other causes, died Monday at his home in Philadelphia. Yale School of Management, Legends of Leadership, 2003. . Not to worry, Mr. Bogle said. Barbara Renninger Found 22 people in Pennsylvania, Florida and 18 other states. For six go-go years, the partnership flourished, but when stock prices plunged in 1974, Mr. Bogle was fired. Most recently, he published Stay the Course: The Story of Vanguard and the Index Revolution (Wiley, 2018). Thank you to our Gala Co-Chairs Gretchen & Gordon Cooney and Anne & David Hilton, as well as the 2016 Gesu Gala Committee for their . Mr. Bogle wasnt afraid to criticize his own index fund creation which he wrote may have grown too large. A tall, athletic man who sported a crew cut for most of his life, Mr. Bogle played squash, tennis, and golf, and also enjoyed sailing. There will be things youll do that youll wish you hadnt, and things you wont do that youll wish you had. They had 12 grandchildren and six great-grandchildren. 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 . I thought there would be an exception for the companys founder, he said in 2012. 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. 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. When his children were growing up, he was almost always home for dinner. Most observers expect that the share of corporate ownership by index funds will continue to grow over the next decade. 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. The decision was made as part of Vanguard's ongoing, comprehensive review of its global product lineup to ensure that each fund and ETF meets the evolving needs of clients. What impressed me most about Jack was his humility and approachability, said Mel Lindauer, a leader of the Bogleheads and coauthor of The Bogleheads Guide to Investing. 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. 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. Did you mean: barbara bogle. Mr. Morgan had read Mr. Bogles senior thesis on mutual funds. This was our time to talk to each other and find out what was going on in each others lives, Andrew Bogle recalled. The thesis earned Mr. Bogle a top grade, and he graduated magna cum laude. Mr. Bogle also went a step further in differentiating Vanguard from other companies that sponsor mutual funds. His zeal for his mission of helping investors get a fair shake was legendary. The world wont be the same without Jack. Mr. Bogles philanthropy reflected his belief that to whom much is given, much is expected. At first, Mr. Bogle floundered, and his low grades in economics, his major, almost cost him his scholarship. A few months later, he was back in the office, writing and speaking about issues of importance to mutual fund investors. A true giant of the industry, Bogle was virtually the creator of index mutual funds and ETFs, and passive investing in general. . 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. 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. Instead, he turned his company into one owned by its mutual funds, and in turn their investors, "that exists to provide its customers the lowest price. AKA: Lynn Renninger, Lynn L Renninger Related to: David Bogle Renninger , Katherine L Connolly , Lynn K Long , Barbara B Renninger , Melissa Lee Weymouth , Suzanne M Farrington , Catherine Flaherty +4 more show less Jack could have been a multibillionaire on a par with Gates and Buffett, said William Bernstein, an Oregon investment manager and author of 12 books on finance and economic history. Cost is a handicap on the horse. Whatever moral standards I may have developed over my long life, I have tried to invest my own soul and spirit in the character of the little firm that I founded all those years ago, he wrote in his 2008 book, Enough: True Measures of Money, Business, and Life. 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. He was very emotional, and teared up easily over things. 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. I grew up in the best possible way, Mr. Bogle said in 2008, because we had social standing I never thought I was inferior to anybody because we didnt have any money but I had to work for everything I got.. He was fond of saying that so-and-so is all hat and no cattle. Jack was all cattle and not very much hat.. Everything else pales by comparison. He served as the first chairman of the board of trustees and chairman emeritus for the National Constitution Center. 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. You want to be average and then win by virtue of your costs, Mr. Bogle said. 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. Din Merican, Your email address will not be published. Im doing what I want to do. Vanguard announced his death. His reputation as a tightwad was well earned. His zeal for his mission of helping investors get a fair shake was legendary. 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. When he was 37, his doctor advised him to retire. 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. While index funds have become widely popular, Vanguards competitors often have been less than keen about following the companys penny-pinching lead. 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. John Bogle was an investor, business magnate, and philanthropist best known as an originator and retired chief of The Vanguard Group. 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. 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. Said Stengel: I often felt compelled to leave an extra tip so the waitress wouldnt feel shortchanged.. In December 1999, he stepped down from the Vanguard board of directors and created the Bogle Financial Markets Resource Center, a Vanguard-supported venture. 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. 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. Mr. Bogle, who had struggled with a congenital heart defect and had several heart attacks, received a heart transplant in 1996. In 1999, Fortune named Mr. Bogle one of the investment industrys four giants of the 20th century, and in 2004, Time listed him among the 100 most influential people in the world. Lived In Willingboro NJ. erelman, the master deal-maker and philanthropist who gave away more than $300 million to the University of Pennsylvania and other causes, died Monday at his home in Philadelphia. Two years later, Mr. Bogle founded the First Index Investment Trust, later called the Vanguard Index Trust, now known as the Vanguard 500 Index Fund, the first index fund for individual investors. Raymond G. Perelman, the master deal-maker and philanthropist who gave away more than $300 million to the University of Pennsylvania and other causes, died Monday at his home in Philadelphia. He was fond of saying that so-and-so is all hat and no cattle. Jack was all cattle and not very much hat.. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Vanguard Announces Share Splits for Six Equity ETFs, Vanguard to Streamline Fund Lineup with Planned Merger and Liquidation, Pennsylvania Society Gold Medal for Distinguished Achievement, 2016, EY Entrepreneur Of The Year Lifetime Achievement Award, 2016. Academic recognitionThe academic community recognized Mr. Bogle's for his accomplishments. Now known as Vanguard 500 Index Fund, it has grown to be one of the industry's largest, with more than $441 billion in assets (the sister fund, Vanguard Institutional Index Fund, has $221.5 billion in assets). The world wont be the same without Jack. He cared enough about his clients to personally answer their letters; he cared enough about his employees to be on a first-name basis with thousands of them, and to pitch in at the phone banks when things got busy; and in the end, he cared enough about his country that he spent much of his last two decades away from home tirelessly crusading against an increasingly elephantine and dysfunctional financial system.. 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