John C. Bogle Quotes


The business has some problems, substantial problems. You go fix it, you young people. That's what you're there for. Don't believe what the old generation tells you. We don't know a damn thing, including Bogle.


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He was referring to the institutions in the particular fields. An established institution in education like a university might develop an innovation in astronomy or language translation, but not likely develop significant innovations in education. An established computer programming company might innovate the method of warehousing and shipping merchandise, but they are not likely to develop an innovative way of computer programming. That is typically done by a programming non-established firm or individual. There are a number of exceptions and this is not put forth as a general principle, but as a statistical observation. Established institutions are working harder and smarter to find ways of innovating regularly, and may succeed more frequently than the present.


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  • Born: May 8, 1929
  • Died: January 16, 2019
  • Nationality: American
  • Profession: Investor, Business Magnate, Philanthropist

John Clifton "Jack" Bogle was an American investor, business magnate, and philanthropist. He was the founder and chief executive of The Vanguard Group, and is credited with creating the first index fund. An avid investor and money manager himself, he preached investment over speculation, long-term patience over short-term action, and reducing broker fees as much as possible. The ideal investment vehicle for Bogle was a low-cost index fund held over a period of a lifetime with dividends reinvested and purchased with dollar cost averaging.