You know the Vanguard 500 Index thanks to him. And someday, if a Mount Rushmore for investor legends is carved into a mountain side, Jack Bogle will be there front and center.
Mr. Bogle passed away yesterday at the age of 89. He will be remembered for the low cost index fund—an idea he made into reality.
Though he cautioned in recent months about his grave concerns regarding the explosive growth of indexing—perhaps a product also in its twilight—it turned out that offering a sound investment product at a low cost was, and is, a great idea for investors.