James Bogle
Stock Market: Invest in Your Fortune. Success Stories
"Stock is not a cure-all magic wand for making immediate earnings, so an investor should always brace himself to wait for a growth after lasting losses."
James Bogle is the founder of The Vanguard Group and is famous mostly for creating index-oriented investment funds, the first fund, the Vanguard 500 Index, being started in 1976. The Vanguard funds’ total assets grew $600 bln as of 2002 from $ 1,8 bln as of 1975.
The Vanguard Group, having started with 40 employees, now employs 11,000 people, being constituted of more than hundred funds to service more than 15 mln accounts.
During all his career Bogle’s principle was not to use technical analysis schemes, studying papers instead of "vogue things". Bogle believed it senseless trying to defeat the market by targeting at extensive yields – just the other way round, you need to keep in line with it and keenly watch all its trends.
In 1996 James Bogle resigned the position of The Vanguard’s chief executive remaining the Chairman of the fund’s Board of Directors until 1999, at the same time taking part in the SEC activities.
Actual price of $ 1 invested in the Vanguard in 1975 is $323 |
