Vanguard Founder Jack Bogle's Investing Philosophy (video)

Vanguard Founder Jack Bogle's '90s Interview Shows His Investing Philosophy

Vanguard founder Jack Bogle, who died Jan 16, 2019, was famous for making investing accessible to the everyday person through index funds – funds that match a market barometer like the S&P 500. His message was simple: why waste money on expensive fees and commissions for complex funds when market barometers often outperform them? That message remained remarkably consistent throughout his career.

Jack Bogle needed hefty amounts of brainpower and market know-how to put together the first index fund. But for investors wanting to cash in on his idea, it's become pretty easy.

In 1975, the founder of Vanguard Group was able to turn a long-held belief into reality, namely that it was far more profitable to follow the market than fight it. Most mutual fund managers who picked stocks couldn't keep up with basic benchmarks like the S&P 500 Index, much less beat them, he found.

So he turned his thoughts into action, putting together the first fund that simply followed the S&P 500, minus a small management cost that was much cheaper than the active funds of the day. CNBC.com video above published on Jan 17, 2019.

One website (of many) using Bogle's principles: bogleheads.org

See also: 

• The Bogle eBlog - Domain: johncbogle.com

• Vanguard Group - Domain: vanguard.com

• Investing, Jack Bogle, Warren Buffett, S&P 500 Index, US, China| DomainMondo.com

• Jack Bogle: Follow these 4 investing rules—ignore the rest | CNBC

• #Bogleheads

• Jack Bogle, Founder of Vanguard Group, Creator of Index Funds, Interview

Jack Bogle changed your life even if you don't know who he was https://t.co/enDcX7sn03

— Bloomberg (@business) January 28, 2019

No one did more for the small investor than Jack Bogle https://t.co/4JQX1Cxe8w

— The Economist (@TheEconomist) January 27, 2019

Vanguard founder Jack Bogle shares the advice he’d leave his kids in an interview with Tony Robbins. https://t.co/aCCvNqM3ej

— Tony Robbins (@TonyRobbins) January 27, 2019

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Vanguard Founder Jack Bogle on the Problem With Index Funds (video)

Vanguard Group founder on the problem with index funds

Vanguard Group Founder Jack Bogle (1929-2019) discusses with Maria Bartiromo how the indexing business has changed over the years and the problem with index funds in this Fox Business video published Jun 8, 2018.

Domain: vanguard.com
Tweets by Vanguard_Group

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Tech Review | Why Communist China Has So Many Tech Billionaires

Tech Review (TR 2019-01-19)--Domain Mondo's weekly review of tech investing news: Features • 1) Why Communist China Has So Many Tech Billionaires, 2)Ecommerce: Online Spending Putting Traditional Retailers Under Pressure, 3) Investing: The Week; Notes: Why You Can't Trust Most "Financial News" and more,  4)ICYMI Tech News: Amazon AWS, Facebook, Tencent, Robotics, 5G, Apple, IBM, Vodafone, and more. 

1) Why Communist China Has So Many Tech Billionaires

By one estimate, China mints a new billionaire every two days, far exceeding the rate of countries like the United States. But how did China remain a nominally Communist state while becoming a hotbed for billionaires-in-the-making? Bloomberg QuickTake explains how capitalist compromises and moves begun decades ago have made China the not-quite-Communist country it is today. Featured: Jack Ma, co-founder of Alibaba Group (alibabagroup.com) $BABA. Bloomberg (bloomberg.com) video above published Jan 9, 2019.

2) Online Spending Putting Traditional Retailers Under Pressure

Richard Lim, CEO of Retail Economics (retaileconomics.co.uk), discusses the U.K. retail sector after M&S and John Lewis suffered their worst Christmas sales since the financial crisis. CNBC International TV video above published Jan 10, 2019. #retail #ecommerce #bricknmortar

Ecommerce & Truckers: since consumers now buy online appliances, treadmills, outdoor grills, etc., national trucking companies are buying up local delivery operators.--bloomberg.com.

3) Investing

The Week: NASDAQ Composite +2.7% | S&P 500 Index +2.9% | DJIA +3.0%

Notes: Why You Can't Trust Most "Financial News"

Article out today with my name in the headline. No interview. No fact check. Reporter sent an email saying “hope this is accurate”. Sheesh.

— Jeffrey Gundlach (@TruthGundlach) January 13, 2019

To be clear: “Hope this is accurate” email was sent with a link to the article, but only after the article was already run in global media.

— Jeffrey Gundlach (@TruthGundlach) January 13, 2019

Editor's note: "Hope is not a strategy."

Other Notes:

• China signals more stimulus as economic slowdown deepens--reuters.com.
• Eurozone: risks besieging European Bonds spill over into 2019--bloomberg.com.
• Germany: German GDP grew 1.5% in 2018, compared with 2.2% in 2017, the weakest growth rate in five years--Federal Statistics Office (Destatis) (flash data).
• Why digital strategies fail: for most companies, the pace of disruption is uneven, and they can’t just walk away from existing businesses. They need to digitize their current businesses and innovate new models--mckinsey.com.
• WeWork a/k/a WeCompany: "You can’t put lipstick on a property gamble and call it a Tech paradigm shift"--morningporridge.com: "Softbank founder Masayoshi Son was the perfect mark"--Editor's note: We Work was expecting a $16 bln capital injection from Softbank’s Visionfund.
• Index funds are dominated by only three asset management firms--Vanguard (Jack Bogle RIP), BlackRock, and State Street Global--marketwatch.com. 
• Brexit: UK Government's next steps will be tabled on Monday 21 January. It will be debated Tuesday 29 January.  Most likely now: renegotiate withdrawal agreement or leave with "no deal" March 29, 2019. More on Brexit here.

4) ICYMI Tech News:

• Amazon Web Services announced Jan 16, 2019, AWS Backup, its fully-managed, centralized service for customers to back up their data from across AWS services and on-premises--press.aboutamazon.com. 
• German antitrust order in the works re Facebook and user data--reuters.com. FTC (US) commissioners met to discuss imposing a record-setting fine against Facebook for failing to safeguard user privacy, violating 2011 consent decree--TheHill.com.  
• UK engineers have finished building Quantum, the first fully software-defined communications satellite that can be reprogrammed in orbit, launching this year--bbc.com.
• Tencent's Xiaowei, AI voice assistant for WeChat, integrates with Tencent's own services and apps by third-parties such as Meituan or Didi.
• 10 robotics companies to watch in 2019--therobotreport.com.
• 5G network and deployment, investment implications--seekingalpha.com. Qualcomm says every Android phone maker will beat Apple to 5G.
• IBM links up with Vodafone for $550m cloud computing contract--cityam.com.

-- John Poole, Editor, Domain Mondo  

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How To Invest Your Extra Cash Wisely and Financial Outlook for 2019

How To Invest Your Extra Cash Wisely

Bloomberg.com video above published Dec 13, 2018.

Vanguard (domain: vanguard.com):

Our take on where the economy might be headed in 2019 and beyond: https://t.co/YzZuEkNgQG

— Vanguard (@Vanguard_Group) December 18, 2018

Vanguard 2019 economic and market outlook (pdf)Tweets by Vanguard_FA

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Tech Review | Robot Revolution: A New Age of Manufacturing (video)

Tech Review (TR 2018-02-03)--Domain Mondo's weekly review of tech news with commentary, analysis and opinion: Features • 1) Robot Revolution: A New Age of Manufacturing, 2) China: Financial Risks, 3) Investing: The Week: SELL-OFF, Investing Notes, 4) ICYMI Tech News.

1) Robot Revolution: A New Age of Manufacturing (video)

Wall Street Journal (wsj.com) video above published Feb 1, 2018: Hundreds of millions of jobs affected. Trillions of dollars of wealth created. These are the potential impacts of a coming wave of automation. In this episode of WSJ's Moving Upstream, we see the next generation of industrial robots, what they're capable of, and whether they’re friend or foe to low-skilled workers.

2) China: Financial risks facing China worse than in US before global crash, former finance minister says | South China Morning Post | scmp.com 30 January, 2018.

• HNA to Face $2.4 Billion Liquidity Crunch This Quarter | Bloomberg.com: January 30, 2018 

• Chinese Stocks Tumble As Hong Kong Officials Monitor Surge In ATM Withdrawals | ZeroHedge.com Feb 1, 2018: "... when will China devalue again? it's already got the capital outflows anticipating it ..."
• Chinese Liquidity Crunch Begins As Stocks Sink: Bankers Begging Friends For Deposits On WeChat | ZeroHedge.com

• China’s HNA tries to navigate turbulent times | ft.com: Once the darling of Beijing’s overseas corporate expansion plan the group has fallen out of favour and faces a cash crunch.

• Cracks Are Showing in China's Shadow Banking Industry | Bloomberg.com: "Recent payment delays shake confidence of Chinese depositors"

3) Investing

The Week: SELL-OFF--

Why? Veteran Trader Art Cashin On Why Stocks Are Plunging | CNBC - YouTube.com: inflation fears, drama in D.C. [Editor's note: I'd add concerns over China (see above), and Fed Policy--interest rates and shrinking the Fed balance sheet--Fed’s QE Unwind Accelerates Sharply | WolfStreet.com.]

Investing Notes:

• ZeroHedge.com: "The Atlanta Fed's latest GDPNow forecast for Q1 economic growth has started at an impressive 4.2%..."
• Things are going GREAT in the eurozone, so why isn’t the ECB raising rates? | MarketWatch.com: "with rates this low [negative], the bank [ECB] essentially has exhausted its emergency tool kit in case of another, unexpected crisis."
• On the other hand, maybe things aren't so great in the eurozone: Bridgewater Triples Bets [short positions] Against Italian Firms to $3 Billion | Bloomberg.com ahead of elections in Italy on March 4, 2018. See also: Deutsche Bank posts third consecutive annual loss in 2017--reuters.com.

• Massive Cryptocurrency Heist Spurs Call for More Regulation | Bloomberg.com: nearly $500 million theft of digital tokens from Japanese cryptocurrency exchange Coincheck Inc.
• Singapore Overtakes China as Largest Asian Investor in U.S. Property | Bloomberg.com: due to Singapore's sovereign wealth fund’s purchases, including its $988 million investment in 60 Wall St., New York.
• Why Warren Buffett Is Spot-On With His Vanguard Fund Advice | InvestorPlace.com

• Wall Street Can't Hold Back Vanguard's Low-Fee Ocean | Bloomberg.com: replicating investment styles used by Wall Street stock pickers "at a fraction of the cost"--"Wall Street will have to lower fees."
• This Week's Question: When does GE get kicked out of the Dow?

4) ICYMI Tech News:

• Chasing Amazon, Google to Create a Cloud App Marketplace | Bloomberg.com

• Chasing Apple, Google completes its $1.1B deal to buy a chunk of HTC’s smartphone division | TechCrunch.com.

• Chasing Uber, Google confirms investment in Indonesian ride-hailing firm Go-Jek.

• Google Parent Alphabet and Aramco in Talks to Build Tech Hub in Saudi Arabia | WSJ.com: "Saudi giant has sought to wean itself off oil; a deal with the California tech behemoth would help."

• Facebook lost daily users for the first time ever in the U.S. and Canada | Recode.net

• Amazon, Berkshire Hathaway and JP Morgan Chase tackle health care costs--Warren Buffett, Berkshire Hathaway Chairman--“The ballooning costs of healthcare act as a hungry tapeworm on the American economy. Our group does not come to this problem with answers. But we also do not accept it as inevitable.”
• Apple Slashes iPhone X Production In Half After Disappointing Holiday Sales | ZeroHedge.com
• China smartphone growth ends--BBC.com, and Verizon Drops Plan to Sell Phones From China's Huawei,| Bloomberg.com: "Carriers pressured by U.S. government to avoid handset maker."
• Jackpotting: Hackers make ATMs spit out lots of cash--stltoday.com. 
• NYTimes.com: Devumi.com uses 3.5M+ automated Twitter accounts to sell followers and retweets to 200K+ customers. 
• Tech Companies Are Under Pressure Everywhere Except Where It Matters | theintercept.com: everywhere but the FTC. 

From the Reuters.com feed:

• Google, Tencent, Sequoia China join $15 million funding for pharma startup XtalPi which uses AI, cloud computing and quantum physics to improve drug design processes.

• Facebook makes privacy push ahead of strict EU law (GDPR)

• China's Xiaomi back to top five vendor as global smartphone market shrinks--the BIG 5: Samsung, Apple, Huawei, OPPO, Xiaomi.

• Alibaba, Foxconn lead $350 million funding in Chinese electric car startup Xiaopeng Motors

• Alibaba-backed online lender MYbank owes cost-savings to home-made tech

• Japan's Fujifilm to take over Xerox in $6.1 billion deal, create joint venture

• Google's G Suite is no Microsoft killer, but still winning converts

-- John Poole, Editor, Domain Mondo  

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Interview With Professor Burt Malkiel, A Randown Walk Down Wall Street

Interview With Burt Malkiel: Masters in Business (Audio) by Bloomberg View

Interviewed by Barry Ritholtz, Burton Malkiel is Chairman’s Professor of Economics at Princeton University. Professor Malkiel served as a member of the Council of Economic Advisers (1975–1977), president of the American Finance Association (1978), and Dean of the Yale School of Management (1981–1988). He was a director for the Vanguard Group vanguard.com for 28 years. Currently, he is Chief Investment Officer to software-based financial advisor, Wealthfront wealthfront.com. He is best known for A Random Walk Down Wall Street, now in its 11th edition, with over 1.5 million copies sold.

Malkiel discusses a wide range of topics from how he urged the creation of index funds to why “a blindfolded monkey throwing darts at a newspaper’s financial pages could select a portfolio that would do just as well as one carefully selected by the experts.”

Particularly interesting for all types of investors, traders, marketers, sellers, and buyers, are Professor Malkiel's comments about pricing and prices, markets and valuations, including in the context of the dot-com bubble. Audio release date: 25 May 2016

Investing: A Random Talk With Malkiel - Bloomberg Gadfly: "... Are high-dividend stocks more risky than bonds? Traditionally, yes. If you look in terms of traditional risk measures, they are more risky, but in my view investors are going to be much better off. 
You famously wrote that a blindfolded chimpanzee could select a portfolio that would do as well as any expert. How do you reconcile that view with Buffett’s long-standing success as a stock picker?
Warren Buffett has in his will instructed his widow to invest in index funds, which means that’s what Warren Buffett would do.
How do you invest your money? 
I invest my own money largely in index funds."

2/ Decided I wanted to work on Wall St, so I picked up Burt Malkiel's "Random Walk..." & got my hands on all Buffett's investment letters

— Anthony Scaramucci (@Scaramucci) February 29, 2016

Youtube video of Dr. Burton Malkiel: what an individual investor should be doing in the event that their investment portfolio is underperforming in the short term (published Aug 26, 2015).

Burton Malkiel is still an indexing fan, but a ‘smart beta’ skeptic https://t.co/e1adrP7wwI via @WSJ

— DrivingTheDay (@DrivingTheDay) May 28, 2016

Tweets by @Wealthfront

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Jack Bogle, Founder of Vanguard Group, Creator of Index Funds, Interview

Who's Jack Bogle? Legendary investor, creator of the index fund, founder of the $3.5 trillion dollar Vanguard Group.

"Bogle tells the fascinating story of Vanguard’s origins ... he named the new management company company for the HMS Vanguard, flying Rear Admiral Sir Horatio Nelson’s flag. Bogle discusses Wall Street’s initial response to index funds, explains why no one ever really decided to compete with Vanguard, and holds a master class on the proper way to invest ... you can hear me struggle for about 12 minutes trying to direct the interview before I give up, satisfied to merely have an amazing conversation with one of the most legendary personalities in all of finance."-- Barry Ritholtz, Interview With Jack Bogle: Masters in Business (Audio) by Bloomberg View.

See also: 

• The Bogle eBlog - Domain: johncbogle.com

• Vanguard Group - Domain: vanguard.com

• Investing, Jack Bogle, Warren Buffett, S&P 500 Index, US, China| DomainMondo.com

• Jack Bogle: Follow these 4 investing rules—ignore the rest | CNBC

• Bogleheads Investing Advice and Info

• #Bogleheads

Tweets by Vanguard_Group

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