Meet the $1.7 Trillion Man
Mike - May 25, 2012

Lown Cardiovascular Research Center Humanitarian Award
Mike - May 23, 2012

To: Principals and Veterans

Last Thursday, I was honored to be the recipient of the inaugural Humanitarian Award by the Lown Cardiovascular Research Center. It was a gala evening in Boston, before a packed house.

Dr. Lown, my cardiologist from 1967 through 1987, helped me to survive for two decades between my first heart attack in 1960 and my heart transplant in 1996. He is the inventor of the cardioverter (for shocking failed hearts back to life) as well as a winner of the Nobel Peace Prize in 1985. This citizen of the world, now 91, remains an articulate and passionate phrasemaker, as you’ll see from his remarks at the presentation of the award. I’ve also attached my words of response.

The evening was well supported by numerous mutual fund managers. GMO’s Jeremy Grantham was the keynote speaker and numerous (past and present) officials of Wellington Management, Granaham Management, and other fund advisers were in attendance.

I must repeat my usual disclaimer. I am reluctant (and more than a little embarrassed) to circulate commentaries like these on my long career, but well aware that if I don’t do so myself it won’t get done. But so many of you have expressed appreciation for these notes in the past that I’ll continue the practice. These attachments may help you to better understand the great struggle that was required to build Vanguard.

Best, always,


Lown Cardiovascular Research Center Humanitarian Award Attachment

John Bogle on the Facebook IPO
Mike - May 22, 2012

Mr. Bogle appeared on CNBC to discuss the recent Facebook IPO.