YouSaid · the spoken record

Jack Bogle

lines on the record

103

first

2016-03-11

most recent

2016-03-11

sittings or episodes

1

sources

podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

1. “Although this industry in those days was very much a commodity in a way kind of commodity, the major funds of those days were just basically buying long lists of blue chip stocks. You could call him Dow Jones Industrial Average Funds, or later because the SP wasn't very well known then, you could call them Standard& Poor's kind of funds. They were down the middle. They had fluctuations very similar volatility, very similar to the index.”

   2016-03-11 · Masters in Business · Interview With Jack Bogle: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

2. “Well, to begin with, the thesis title was the economic role of the investment company. And the overall of the overriding focus of that thesis was mutual funds are there to serve investors. Put the investors first and I talked about reducing sales loads, reducing management fees, focusing on investing and not marketing, things of that nature. And that's what the industry and my formula then would have to do to reach its great potential. And I did not actually, to be very clear on this, I did not assemble. But I looked at about fifteen leading mutual funds. and look at their records, and without adding and dividing and getting averages, it was very clear that very few of them, if any at that time, could outperform the SP five hundred index. So it was basically anecdotal.”

   2016-03-11 · Masters in Business · Interview With Jack Bogle: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

3. “I was looking for a subject for my senior thesis, which is a requirement still at Princeton six extensive document mine turned out to be maybe one hundred thirty five forty pages, and I didn't know what to write about, but I wanted to write about something that no one had ever written about before. And there, in December 1949, I was reading Fortune magazine, which I did as part of my economics background, just voluntarily. And there was an article called Big Money in Boston. And it was about the mutual fund industry. And described this tiny industry maybe $2.5 billion for the industry, as tiny but contentious. And I thought, well, you know, I'm kind of tiny, and I'm kind of contentious. So I'll write about it. And I wrote the thesis, enabled me to graduate with high honors from Princeton. Very pretty good job. Not a great thesis, but not”

   2016-03-11 · Masters in Business · Interview With Jack Bogle: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source