John Clifton Bogle, founder of Vanguard Group and pioneer of index investing, left an indelible mark on the financial world. In the following article, you’ll notice that John Bogle is often referred to as “Jack”. This nickname was widely used by his colleagues, friends, and people in the financial industry. According to those who knew him, he insisted on using this informal name. The use of the name “Jack” in the quotes reflects the authenticity and closeness of the relationships Bogle had with many Wall Street experts.
Warren Buffett, CEO of Berkshire Hathaway
If a statue is ever erected to honor the person who has done the most for American investors, the hands-down choice should be Jack Bogle. For decades, Jack has urged investors to invest in ultra-low-cost index funds. In his crusade, he amassed only a tiny percentage of the wealth that has typically flowed to managers who have promised their investors large rewards while delivering them nothing – or, as is more usual, less than nothing.
Jared Dillian, Bloomberg Opinion
What distinguishes Bogle is that he literally decided not to profit from his innovation. It was the most powerful innovation in finance in fifty years. He could have been a billionaire, but he consciously chose not to be.
Anthony Isola, Ritholtz Wealth Management
He did a lot of good for himself, but he did even more for other people. That’s a great lesson. It shows that the financial industry doesn’t have to be predatory.
Lee Kranefuss, Kranefuss Group LLC
Those of us who came after him in the world of ETFs and indexing, we stand here on his giant shoulders. Jack introduced what can be a very esoteric concept in terms of efficient proof and theory for individual investors.
Cliff Asness, AQR Capital Management
I can’t imagine another figure, present or historical, who championed a cause that was initially less popular, persevered, and thereby benefited more ordinary investors than Jack. Moreover, I can’t come up with a number two on the list that isn’t a ridiculous comparison to this Great Man.
No single person ever did more for investors while asking less for himself. Or close. And he was old school class. We won’t see his like again.
Burton Malkiel, Economist and Author of “A Random Walk Down Wall Street”
Jack Bogle has probably done more for the American investor than any man in the country.
David Swensen, Former Chief Investment Officer, Yale University
Jack Bogle’s contribution to the investment world cannot be understated. His creation of the index fund revolutionized investing, allowing millions of individuals to participate in the market’s gains at minimal cost.
Charles Ellis, Founder, Greenwich Associates
Jack Bogle is the George Washington of investing. He put the interests of investors first, and he did it when no one else was doing it.
William Bernstein, Financial Theorist and Author
Jack could have been a multibillionaire on a par with Gates and Buffett… He basically chose to forgo an enormous fortune to do something right for millions of people. I don’t know any other story like it in American business history.
These expert opinions highlight Bogle’s integrity, vision, and lasting impact on the investment world. His creation of index funds and commitment to low-cost investing have benefited millions of investors globally, earning him respect and admiration from even his competitors on Wall Street.
