<\/p>\n
TO: Veterans and Principals<\/strong> This story from the April 2015 issue of Bloomberg Markets<\/em> magazine features some speculation about who might be able to fill the empty chair you see on the first page of the attachment when I\u2019m gone. The article\u2019s title asks the question, \u201cIs There a Next Jack Bogle?\u201d<\/strong><\/a> Based on the authors\u2019 extensive interview with me, they conclude, \u201cNot if You Ask Jack Bogle.\u201d (In fact, all I said was, \u201cI think it\u2019s crystal clear that nobody, nobody<\/em>, plunges into this battle to build a better industry with any more enthusiasm than I do.\u201d) My potential successors apparently include our CEO Bill McNabb; BlackRock\u2019s head of iShares Mark Weidman; \u201cSmart Beta\u201d pioneer Rob Arnott of Research Affiliates; my son John C. Bogle, Jr. of Bogle Investment Management, hedge fund manager Cliff Asness of AQR; University of Pennsylvania professor Jeremy Siegel of \u201csmart beta\u201d firm WisdomTree Investments; and Andrew Lo of MIT, developer of the \u201cAdaptive Markets Hypothesis.\u201d The article seems to focus on whether or not these potential successors\u2014often with new indexing methodologies\u2014can continue to drive indexing forward. But, along with Bill Sharpe and other respected academics,[1]<\/a> I believe that traditional market-cap-weighted broad-market indexes (S&P 500 and the Total U.S. Stock Market) will endure long after most\u2014if not all\u2014of these other strategies have been abandoned. I wish that the authors of the article had focused more on who might continue my passionate investor advocacy\u2014including my efforts to establish a standard of fiduciary duty for all money managers. But we rarely get what we wish for\u2026
\nFROM: John C. Bogle<\/strong>
\nDATE: April 1, 2015<\/strong>
\nRE: Bloomberg Markets<\/em> Article<\/strong>
\n <\/p>\n
\n <\/p>\n
\n <\/p>\n
\n <\/p>\n
\n
\n
\n
\nBest,<\/p>\n