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John C. Bogle (May 8, 1929 – January 16, 2019) was a prominent American investor, financial executive, and founder of The Vanguard Group, one of the world’s largest and most well-known investment management companies. He is widely recognized for his pioneering efforts in creating and popularizing index mutual funds, as well as for advocating for low-cost investing and investor-friendly practices. Here’s an overview of his business background:

1. Early Life and Education: John Bogle was born in Montclair, New Jersey. He attended Blair Academy and later graduated magna cum laude from Princeton University, where he studied economics.
2. Founding Vanguard Group: Bogle founded The Vanguard Group in 1974. He introduced the idea of an index mutual fund that tracked the performance of the entire stock market rather than trying to beat it. This led to the creation of the Vanguard 500 Index Fund, which was the first index mutual fund available to individual investors.
3. Index Investing: Bogle’s philosophy was centered around the concept of index investing, which he believed offered investors a simple and cost-effective way to participate in the overall market’s long-term growth. He argued that the vast majority of actively managed funds failed to consistently outperform the market after accounting for fees and expenses.
4. Low-Cost Investing: One of Bogle’s most significant contributions to the investment industry was his emphasis on low-cost investing. He believed that minimizing fees and expenses was essential for maximizing investors’ returns over the long term. He championed the idea that investors should focus on keeping costs low to retain more of their investment gains.
5. Advocacy for Shareholders: Bogle was known for his advocacy on behalf of individual investors. He was critical of the excessive fees charged by many mutual funds and other investment products. He fought for greater transparency and fairness in the financial industry, and his efforts influenced regulatory changes and industry practices.
6. Vanguard’s Growth: Under Bogle’s leadership, Vanguard grew to become one of the largest investment management firms in the world. The company continued to expand its offerings to include a wide range of index and actively managed funds, as well as other investment products and services.
7. Books and Writing: Bogle authored several books, including “Common Sense on Mutual Funds” and “The Little Book of Common Sense Investing.” These books presented his investment philosophy to a broader audience and provided guidance on how individual investors could achieve their financial goals.
8. Legacy: John Bogle’s impact on the investment industry is immense. His advocacy for passive, low-cost investing led to a shift in investor behavior and the proliferation of index funds and exchange-traded funds (ETFs). His ideas have influenced countless investors, financial advisors, and institutions, reshaping the way people approach investing.

John Bogle’s legacy continues to be celebrated by investors and industry professionals alike for his commitment to the principles of simplicity, transparency, and the well-being of individual investors.