This interview with Jack Bogle, produced by the Motely Fool, is a good introduction to one of America’s greatest citizens. Bogle created the first index fund on New Year’s Eve, 1975. Since then the company he founded, Vanguard, has lived up to its moniker by proving that ultra-low-cost passive investing wins the loser’s game being played in the Wall Street casinos. I just finished reading Bogle’s Little Book of Common Sense Investing, which backs up his simple investing philosophy.
What I respect about Bogle is that he calls out the greed that robs average investors. He set up his company to be investor-oriented rather than profit oriented. The result is that everyone can be rewarded. The interview is great because it’s being conducted by a stock picker, Tom Gardner, who nonetheless lionizes Bogle the anti-stock-picker.
Watch the video, then read the book. You too will become a Boglehead.