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Investing Specialists

Morningstar Runs the Numbers: Bogle Edition

We take a numerical look through the life and work of Vanguard founder Jack Bogle. Plus, our most popular articles and videos for the week ended Jan. 18.

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Inspired by Harper's Index (with a tip of the hat to FiveThirtyEight's Significant Digits blog), Morningstar Runs the Numbers uses a numbers-based approach to highlight recent Morningstar research, along with some outside news stories.

Jack Bogle founded Vanguard, the first and still only mutually owned mutual fund family, in 1974.

The firm launched the first retail index fund, now known as  Vanguard 500 Index (VFINX), which was borne of the simple yet controversial insight that by buying and holding the stock market at low cost, investors could do better than most active managers, writes Morningstar's Dan Culloton and Alec Lucas.

Investors who put $10,000 in the Vanguard 500 on Aug. 31, 1976, had about $790,000 by Jan. 15, 2019.

Bogle underwent heart transplant surgery after several heart attacks and genetic disease.

Bogle wrote 12 books, including Bogle on Mutual Funds: New Perspectives for the Intelligent Investor from 1993; John Bogle on Investing: The First 50 Years (2000); and Stay the Course: The Story of Vanguard and the Index Revolution (2018).

$5.3 trillion
Vanguard has about $5.3 trillion in assets under management, making it one of the largest money managers in the world.

4% to 5%
In October, Christine Benz interviewed Bogle at the annual Bogleheads conference, where he offered his predictions on market returns this year. He offered 4% to 5% returns for stocks (nominal); 4% nominal returns for bonds over the next decade.

$80 million
The New York Times says Bogle's net worth was "generally estimated at $80 million last year," but it notes his reputation as a "tightwad."

At breakfast with a reporter in 1993, at a suburban Philadelphia restaurant near Vanguard’s headquarters, Mr. Bogle figured out that he would beat the $5.95 cost of the buffet by ordering from the menu.

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