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December 3, 2008

Vanguard's Bogle sees a long recession

  • The founder of the Vanguard 500 Index Fund — the first index mutual fund — is more vocal than ever in urging long-term investors to bet on the market as a whole, not individual stocks.
    • By MARK JEWELL
    AP Personal Finance Writer

    John C. “Jack” Bogle, founder of The Vanguard Group Inc., is 79, and has seen 10 bear markets in more than five decades in the investment business. So is he questioning his fundamental beliefs amid a U.S. recession that was officially declared Monday, and has erased trillions of dollars in stock market value? Hardly.

    The founder of the Vanguard 500 Index Fund — the first index mutual fund, created in 1975 — is more vocal than ever in urging long-term investors to bet on the market as a whole rather than picking individual stocks. It's a low-cost alternative to actively managed funds, and an approach that Bogle championed during more than two decades as Vanguard's chairman and chief executive.


     
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