To: Vanguard Veterans and Principals
From: John C. Bogle
Date: August 31, 2016
Re: 40th Anniversary of the Index Mutual Fund
Hi, All,
Today, as you may well know, is the 40th anniversary of the first index mutual fund—now Vanguard 500 Index Fund. There has been reasonably good press coverage of the event (none of which was solicited by me). I attach four of the major stories about the anniversary that have been published today.
1. “Birth of the Index Mutual Fund: ‘Bogle’s Folly’ Turns 40,” The Wall Street Journal.
2. “Guess Who Just Turned 40 and Is Worth $3.6 Trillion?” Bloomberg.
3. “The First S&P 500 Index Fund Turns 40 Years Old Today,” Benzinga.
4. “A Salute to John Bogle, A Real F—— People’s Hero,” The Concourse.*
I’m enjoying this moment, and I hope you are too.
Best,
Jack
*Since Vanguard is a family company, I’ve bowdlerized this article.