Character Counts : The Creation and Building of the Vanguard by John C. Bogle

By John C. Bogle

How John Bogle outfitted forefront and remodeled the funding world­­in his personal words

Jack Bogle is still one of many titans of the funding global and a hero to the autonomous investor, as well known for his impact as he's revered for his accomplishments. Character Counts is the tale of ways forefront used to be born, why it has flourished, and what management rules and administration practices fostered its development.

Covering the interval 1974­2001, the tale is advised in the course of the dozens of powerful and remarkable speeches he has given to leading edge staff individuals through the years, interspersed with a story that offers context and clarification. This "you are there" method presents new insights into one of many world's most vital monetary institutions­­and into the mutual fund itself. Character Counts paints an indelible portrait of the fellow Fortune named one of many "four giants of finance" of the twentieth century.

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Extra resources for Character Counts : The Creation and Building of the Vanguard Group

Sample text

At the outset, with Vanguard a brand-new name in the industry, having little public recognition and a fragile asset base, I was apprehensive about applying our corporate name to the funds. But by early 1980, I was confident that we were not only at last on solid ground, but that we were about to take off. It was time to establish our name. We would add “Vanguard” to the names of all of our funds (“Vanguard Wellington,” and so on) and began by asking shareholders of Whitehall, Warwick, Westminster, and First Index to approve the addition.

The Challenges We Face I suppose that Vanguard’s future—and indeed the future life of each of us—will inevitably swing back and forth between favoring winds and head winds, between stormy seas and tranquil seas. Surely enough challenges exist to assure that we will live in interesting times. Globally, we must be concerned with world population, widespread poverty, the earth’s finite resources, the threat of nuclear holocaust. Nationally, we must be concerned with the protection of our hard-won liberty, the integration of minority groups into the American system, a political process in which we too often seem to have lost the ability to govern ourselves, and a too-fragile economy that needs rebalancing, fresh approaches, and renewed vitality.

I think it is fair to say that the competition for the savings dollar from America’s financial institutions in 1983 will be more rugged, more heated, more intense than ever before in history. I also think it is fair to say that the generosity of the stock and bond markets in late Copyright 2002 The McGraw-Hill Companies, Inc. Click Here for Terms of Use. T H E C O M P A N Y T A K E S O F F, 1 9 8 0 – 1 9 8 5 1982 is unlikely to be repeated, at least at the recent extravagant rate, throughout 1983.

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