April 12, 2011
To: Principals and Veterans,
Three recent items to report to you:
(1)
Text of my brief (for me) remarks on receiving the Tiburon CEO Summit Award, in which I review our industry position and describe the amazing and unpredictable events that led to our creation, without anyone of which Vanguard would not exist today.
(2)
A nice presentation of my op-ed for the Financial Times of London, describing the harsh realities of investing as compared to the bright illusions created by Wall Street ( one of the major themes of Don’t Count on It!).
(3)
A copy of the cover and the text on the inside flap of a new book, The House that Bogle Built: How John Bogle and Vanguard Reinvented the Mutual Fund Industry. It begins with a revision of John Bogle and the Vanguard Experiment, published in 1996, and then follows with a chronicle of the past 15 years. While it includes interviews with me, Bill McNabb, and others, the opinions expressed are the author’s own. While I have not read it, I’ve heard the book includes some controversial issues. I believe it’s now in the book stores, as well as Amazon, Barnes & Noble, etc.
Thanks to each one of you for making this place such a fine haven for our clients, especially in these unpredictable and volatile markets.
Jack