Jack Bogle: the retail investor’s greatest champion

Jack Bogle, founder of Vanguard, has died aged 89. He was the wit who invented index-tracking funds and helped destroy the self-serving myths of rapacious experts did all investors a great service. 

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(Image credit: 2012 Bloomberg)

"If you have a pension, and have a flag, fly it at half-mast today," tweeted The Economist's Stanley Pignal to mark the death of Jack Bogle, who created the world's first index fund. Bogle's key insight "don't bother with stock-picking banker types, they're mediocre, just buy all the stocks in the index" was revolutionary back in the 1970s. So was the way he laid into rapacious "experts", says The Wall Street Journal. "In the fund industry," the Vanguard founder once observed, "you get what you don't pay for." His message that investment could be "simple as pie and cheap as dirt" struck home. Index-fund investments now comprise some 30% of the US stockmarket; $10trn globally is held in "passive" investments.

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Jane writes profiles for MoneyWeek and is city editor of The Week. A former British Society of Magazine Editors editor of the year, she cut her teeth in journalism editing The Daily Telegraph’s Letters page and writing gossip for the London Evening Standard – while contributing to a kaleidoscopic range of business magazines including Personnel Today, Edge, Microscope, Computing, PC Business World, and Business & Finance.

She has edited corporate publications for accountants BDO, business psychologists YSC Consulting, and the law firm Stephenson Harwood – also enjoying a stint as a researcher for the due diligence department of a global risk advisory firm.

Her sole book to date, Stay or Go? (2016), rehearsed the arguments on both sides of the EU referendum.

She lives in north London, has a degree in modern history from Trinity College, Oxford, and is currently learning to play the drums.