The S&P 500 index fund that Bogle launched in 1976, called “First Index Investment Trust,” was also known as Bogle’s folly. Jack was ridiculed by some, but he ultimately proved his critics wrong.
In fact, Bogle’s folly actually helped the S&P 500 become the world’s leading ‘investable benchmark,’ a critical innovation and starting point for all investors.
Personally, I was very inspired by Bogle and Vanguard early in my career, and today, we often explain that ETF PM is building a “next-generation” Vanguard.
ETF PM’s investable benchmarks were mostly influenced by Jack Bogle’s passive approach at Vanguard, David Swensen’s ETF diversification philosophy in his book, “Unconventional Success,” and Ray Dalio’s performance enhancement with leveraged risk parity at Bridgewater.
Regardless, no matter who takes the investable benchmark torch from Jack, Bogle will always be remembered for his revolutionary vision, legendary passion, and extraordinary success in maximizing investor value.
Thank you very much Jack Bogle!
Rest In Peace