From the NY imes: Vanguard, the penny-pinching mutual fund company founded by
John C. Bogle, has become a colossus. Its index funds — once derided for not
even trying to beat the market — are now the industry standard.
Mr. Bogle, 83, has written 11 books and had at least six
heart attacks and one heart transplant. Of today’s market conditions, he says,
“It’s urgent that people wake up.”And after at least six heart attacks and one
heart transplant, Mr. Bogle has managed to witness this triumph. “It’s all a
kind of a miracle,” he says in a booming baritone. “It’s really nice that I’m
able to see this happen in my own lifetime....”
“It’s urgent that people wake up,” he says. Why? This is the
worst time for investors that he has ever seen — and after more than 60 years
in the business, that’s saying a lot…
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