John Bogle on Investing

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4.7 • 4.3K Ratings

🗓️ 9 April 2007

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

The legendary John Bogle, founder of the Vanguard Group and creator of the index mutual fund, talks about the Great Depression, the riskiness of bond funds, how he created the Index 500 mutual fund--now the largest single mutual fund in the world--how the study of economics changed his life and ours, and Sarbanes-Oxley. At the end of the conversation, he reflects on his life and career.

Transcript

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0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty.
0:13.6	I'm your host Russ Roberts of George Mason University and Stanford University's Hoover
0:18.3	Institution.
0:19.7	Our website is econtalk.org where you can subscribe, find other episodes, comment on this podcast,
0:26.9	find links and other information related to today's conversation.
0:31.0	Our email address is mailaddycontalk.org.
0:34.6	We'd love to hear from you.
0:38.1	My guest today is John Bogle.
0:40.0	Mr. Bogle founded the Vanguard Group in 1974 and served as Chief Executive Officer until
0:46.0	1996.
0:47.8	The Vanguard Group with $1.1 trillion under management is one of the largest mutual fund
0:55.3	organizations in the world.
0:57.2	The Vanguard 500 index fund, the largest fund in the group, is the largest single mutual
1:01.2	fund.
1:02.2	And that was founded by Mr. Bogle in 1975 and it was the first index mutual fund.
1:07.7	Mr. Bogle, welcome to Econ Talk.
1:09.4	Good to be with you, Russ.
1:11.5	You were born in 1929, which was a very bad time for the stock market and the years that
1:17.1	followed were not particularly good for the economy.
1:20.4	Do you remember those times either directly or through the stories of your parents and I
1:23.8	would be curious how you think that might have affected you growing up that way?
1:27.8	Well, we had a kind of interesting observation because we had a nice little family fortune
	...

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