I often write when investment markets are roiling or unsettling news may have individuals questioning their resolve as investors. Today, I simply want to take a moment to step away from the daily turmoil and honor the life of one giant man.
On January 16th, Vanguard founder John “Jack” Bogle, passed away at age 89 in his Bryn Mawr home.
Search the Internet for “Bogle” and you’ll soon be immersed in a universal outpouring of respect for the man. Rightfully so. His lifetime of unblinking commitment to busting open the doors of Wall Street and tearing down its shibboleths is unmatched by anyone else we know.
Reducing costs, avoiding hyperactive trades, insisting on fiduciary, transparent financial care… These values may seem obvious today. But it was in large part Bogle who championed them all, and at times, was ridiculed for doing so. He did not care; he spoke up anyway, every chance he got to push for meaningful change.
This excerpt from The Philadelphia Inquirer, Bogle’s hometown paper, epitomizes our feelings:
“Jack could have been a multibillionaire on a par with Gates and Buffett,” said William Bernstein, an Oregon investment manager and author of 12 books on finance and economic history. Instead, he turned his company into one owned by its mutual funds, and in turn their investors, “that exists to provide its customers the lowest price. 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.”
As we each strive to bring meaning to our own lives, we may sometimes despair over whether we can overcome seemingly enormous challenges.
We can… you can. Bogle’s legacy makes that abundantly clear. Day by day, choice by choice, year after year, each of us accumulates patient, positive steps toward being our ideal self. Each of us matter. Together, we matter the most.
I hope this message encourages you to reaffirm your commitment to fulfill your purpose in life and take positive steps toward being your ideal self.
How can I help you achieve your ideals – for you, your loved ones and the world? Please let me know.
If you know others who would appreciate this message, please share it with them.