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John C. Bogle

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  1. Nygren: Market Commentary – 1Q15

    Headlines

    Fri, 10 Apr 2015

    active managers are destined to fail. That’s why Vanguard ’s John Bogle preaches that most investors would be better off ..... index funds we compete with. And we don’t begrudge John Bogle ’s evangelic zeal for these products. In fact, he

  2. Vanguard's First-Quarter Scorecard

    Video Reports

    Tue, 7 Apr 2015

    for Morningstar.com. Vanguard engineered some changes ..... idea? Hughes: Right. Vanguard is not a cult of personality ..... roots. As we all know, Jack Bogle is quite a personality ..... industry. Today, though, Vanguard is really a collaborative

    Jack Bogle Bogle found at 1:50

    the funds. Are there implications, though? Hughes: Well, this is something that Vanguard has historically done, these rotations of managers. So, it isn't unusual. It happens every maybe year or two. Every couple of years or so, there'll be some shuffling of maybe just one or two people who are making some changes. But in this case, it's six or seven or so who are making changes. Benz: So, part of the idea is to give people breadth of experience--people in the top roles. Is that the idea? Hughes: Right. Vanguard is not a cult of personality, so to speak, regardless of--or maybe despite--its roots. As we all know, Jack Bogle is quite a personality and leader in the industry. Today, though, Vanguard is really a collaborative, team-oriented group. They focus more on the organization than they do on any one person. So, they do like to give their senior leadership a lot of experience and touch a lot of different parts of the company. Benz: Mike, one of the people moving around here is Martha King. She had been in charge of Vanguard's relationships within financial advisors. She really grew that business quite a bit. Let's talk about her legacy there as well as her new role. Rawson: Well, certainly, Martha King is a rising star at Vanguard in part, due to the success that she has had. If you look at Vanguard as a firm, they follow what's called the direct-distribution model. They've had a 1-800 number and then a website. You call them up and invest in their funds, whereas most other firms use what's called "pay to play," where you buy their fund and you are paying either a load or a portion of your expense ratio--a 12b-1 fee--to the person who sold you that fund. Not the case with Vanguard Consequently, Vanguard really never appealed to your financial advisors, particularly the wirehouse financial advisors who sell a product hoping to get paid and compensated in some way. Vanguard didn't compensate them, so they never used Vanguard products. ETFs come along and institutional share classes of index funds come along, and that starts to change. Now, financial advisors who are following a fee-based incentive model--where they'll charge a fee for the assets under management that they help advise you on or these independent RIAs who are following the fee-based financial model--will use Vanguard funds, in part, because they are so low-cost that when they tack on their fee, it's still, overall, a low-cost product. So, they are now adopting Vanguard products when they never had in the past. That now accounts for almost a third of their assets, which is really remarkable. Almost a $1 trillion. And she certainly deserves some credit for that success. Benz: So, let's talk about Martha King's new role. What's she going to be doing, Bridget? Hughes: So, she is coming from heading up the segment that focused on financial advisors, and she is moving into the segment that heads up the institutional group at Vanguard Now, Vanguard has long been a player in the institutional marketplace, so this isn't necessarily a role in which you're going to see the
  3. Making Money Last in Retirement

    Video Reports

    Tue, 7 Apr 2015

    throughout your life. How would you recommend viewing Social Security within the asset-allocation framework? Benz: Jack Bogle would say to think of it as a bond. My view is that people should look at their income needs during retirement, subtract

    Jack Bogle Bogle found at 14:46

    How would you recommend viewing Social Security within the asset-allocation framework? Benz: Jack Bogle would say to think of it as a bond. My view is that people should look at their income needs during retirement,
  4. B.Gross - Betting on Leverage to Lift Returns

    Commentary

    Wed, 1 Apr 2015

    several approaches to balance risk with reward, espoused by managers including Jeremy Grantham, Warren Buffett and Jack Bogle . Gross, who runs the $1.5 billion Janus Global Unconstrained Bond Fund, wrote that he is most aligned with the

  5. March Madness

    Headlines

    Wed, 1 Apr 2015

    fundamentally cheap. For most investors who don’t have the benefit of a closed-end business structure, perhaps Jack Bogle is right. One can’t be sure where markets are going, he consistently maintains, but one can be sure that the lower

  6. Answering Your Unanswered Questions

    Headlines

    Tue, 31 Mar 2015

    the fund's shareholders and not necessarily of the fund or its parent company. But some critics, including Vanguard founder Jack Bogle , argue that mutual funds should be more active in terms of wielding their clout in proxy votes. They say that

  7. Woe Betide the Value Investor

    Headlines

    Thu, 26 Mar 2015

    better off if they hadn’t learned about the value premium and just stayed with an S&P 500 fund as Burt Malkiel and Jack Bogle have passionately advised. The Return Gap Russ Kinnel of Morningstar has frequently observed that the buy-and-hold

  8. Flying High: RAFI at 10 Years

    Headlines

    Thu, 12 Mar 2015

    attracted immediate skepticism from Jack Bogle , Burt Malkiel, Cliff Asness ..... continue to hold for all three. Jack Bogle correctly and fairly pointed out ..... Morningstar’s Russ Kinnel to Vanguard ’s Jack Bogle , countless articles chronicle

  9. Why We Should Expect More From Mutual Fund Directors

    Headlines

    Tue, 3 Mar 2015

    even that relaxed standard is not observed, as Jack Bogle demonstrated four decades ago. When seeking subadvisors for Vanguard 's stock funds, Bogle negotiated asset-management fees that were a fraction

  10. "Why You Owe Your Freedom To Jack Bogle "

    Commentary

    Tue, 3 Mar 2015

    Bogleheads: Allan Roth has written a beautiful article explaining why we owe so much to Jack Bogle who is a candidate for The Presidential Medal of Freedom. Please use the link in the article to cast your vote. http://blogs

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