September 6, 2011<\/p>\n
To Veterans and Principals:<\/strong><\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 It seemed only appropriate to celebrate (as it were) the 35th<\/sup> anniversary of the index fund, the first major innovation of the then-tiny and young Vanguard Group. So last week, I wrote an essay on the creation of the fund and its initial public offering, which took place on August 31, 1976.<\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 I sent the essay to the op-ed editors of The Wall Street Journal<\/em>, hoping they could help me get it placed in the \u201cReview\u201d section, which runs on Saturdays. But they wanted to publish a significantly shortened version on \u201ctheir\u201d page, so I (reluctantly) did the merciless editing required.<\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 I\u2019m attaching the the piece as it appeared in the Journal<\/em><\/a>\u00a0on September 3, but also the full essay as originally penned<\/a>. I like my title better (of course!); and I loved the flourish of my final sentence, sadly absent from the published version.<\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Can you even imagine Vanguard without index funds?<\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Jack<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":" September 6, 2011 To Veterans and Principals: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 It seemed only appropriate to celebrate (as it were) the 35th anniversary of the index fund, the first major innovation of the then-tiny and young Vanguard Group. So last week, I wrote an essay on the creation of the fund and its initial public offering, which took […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[15,7],"tags":[],"class_list":["post-544","post","type-post","status-publish","format-standard","hentry","category-memos-to-principals-and-veterans","category-op-eds"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/posts\/544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/comments?post=544"}],"version-history":[{"count":3,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/posts\/544\/revisions"}],"predecessor-version":[{"id":548,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/posts\/544\/revisions\/548"}],"wp:attachment":[{"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/media?parent=544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/categories?post=544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/tags?post=544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}