{"id":946,"date":"2014-04-14T07:34:39","date_gmt":"2014-04-14T12:34:39","guid":{"rendered":"http:\/\/johncbogle.com\/wordpress\/?p=946"},"modified":"2014-04-14T07:34:39","modified_gmt":"2014-04-14T12:34:39","slug":"memo-to-veterans-and-principals","status":"publish","type":"post","link":"https:\/\/johncbogle.com\/wordpress\/2014\/04\/14\/memo-to-veterans-and-principals\/","title":{"rendered":"Memo to Veterans and Principals"},"content":{"rendered":"

To: Veterans and Principals<\/span><\/b><\/p>\n

\u00a0<\/span><\/b>From: John C. Bogle<\/span><\/b><\/p>\n

\u00a0<\/span><\/b>Date: April 10, 2014<\/span><\/b><\/p>\n

\u00a0<\/span><\/b>Re: More Recognition for Our Firm<\/span><\/b><\/p>\n

\u00a0<\/span>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The spate of attention focused on Vanguard that took me three consecutive mailings to send you (on March 4, March 5, and March 6, 2014) subsided. But, surprisingly, it resumed about 10 days ago, although this note requires only two mailings. This is the first such mailing; the second will be circulated on Tuesday, April 15.<\/span><\/p>\n

\u00a0<\/span>1)\u00a0\u00a0\u00a0\u00a0\u00a0 \u201cThe Inspiration for John Bogle\u2019s Great Invention.\u201d<\/a><\/b> On March 5, The Wall Street Journal\u2019s MarketWatch<\/i> began a series called \u201cThings Written Long Ago That I Wish I Had Read Long Ago.\u201d The first essay in the series was columnist George Sisti\u2019s piece on Paul Samuelson\u2019s essay, \u201cChallenge to Judgment,\u201d published in the very first issue of The Journal of Portfolio Management<\/i> in 1974. As many of you know, it was this essay that helped inspire the creation of the world\u2019s first index mutual fund. To this day, I remember in considerable detail this remarkable piece, and the credibility that this brilliant Nobel Laureate brought to my forthcoming creation.<\/span><\/p>\n

2)\u00a0\u00a0\u00a0\u00a0\u00a0 \u201cYou Don\u2019t Know Jack: The Education of Jack Bogle<\/a><\/b>.\u201d<\/b> On April 4, the Philadelphia Business Journal<\/i> published this lengthy interview, focused on Vanguard\u2019s history and my long career. Perhaps I was a bit too honest in responding to the final question, but that kind of candor is a small price to pay for the credibility that Vanguard has established with the press and the public. <\/span><\/p>\n

3)\u00a0\u00a0\u00a0\u00a0\u00a0 \u201cBogle: Tilt To Corporates for More Yield.\u201d<\/a><\/b> Olly Ludwig, financial editor of ETF.com<\/i> (formerly IndexUniverse.com<\/i>, not, for me, a happy change!) covers a wide range of issues relating to Vanguard and the fund industry. Some of the numbers are a bit garbled, but you\u2019ll get the point. Despite another bit of controversy, stories don\u2019t get much more positive for our firm than this one.<\/span><\/p>\n

Happy reading! More to come.<\/span><\/p>\n

\u00a0<\/span><\/b>Best,<\/span><\/b><\/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<\/b>\u00a0\u00a0\u00a0\u00a0\u00a0 <\/b>Jack<\/b><\/em>\u00a0\u00a0\u00a0<\/em> <\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

To: Veterans and Principals \u00a0From: John C. Bogle \u00a0Date: April 10, 2014 \u00a0Re: More Recognition for Our Firm \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The spate of attention focused on Vanguard that took me three consecutive mailings to send you (on March 4, March 5, and March 6, 2014) subsided. But, surprisingly, it resumed about 10 days ago, although this […]<\/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":[15,5],"tags":[],"class_list":["post-946","post","type-post","status-publish","format-standard","hentry","category-memos-to-principals-and-veterans","category-press-clippings"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/posts\/946","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=946"}],"version-history":[{"count":1,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/posts\/946\/revisions"}],"predecessor-version":[{"id":947,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/posts\/946\/revisions\/947"}],"wp:attachment":[{"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/media?parent=946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/categories?post=946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/tags?post=946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}