Career
Upon graduation he went to work for Walter L. Morgan at Wellington Management Company. After successfully climbing through the ranks, he was named chairman of Wellington but was later fired for an "extremely unwise" merger that he approved, a poor decision that he considers his biggest mistake, stating "The great thing about that mistake, which was shameful and inexcusable and a reflection of immaturity and confidence beyond what the facts justified, was that I learned a lot".
Bogle then founded The Vanguard Group in 1974. Under his leadership, the company grew to be the second largest mutual fund company in the world. Influenced by the works of Eugene Fama, Burton Malkiel, and Paul Samuelson, Mr. Bogle founded the Vanguard 500 Index Fund in 1975 as the first index mutual fund available to the general public. He continues to be active in The Vanguard Group.
Bogle is a member of the board of trustees at Blair Academy. He is also an advisory board member of the Millstein Center for Corporate Governance and Performance at the Yale School of Management. Bogle received an honorary doctorate of law from Princeton University in 2005.
Bogle also currently serves on the board of trustees of the National Constitution Center in Philadelphia, a museum dedicated to the U.S. Constitution. He had previously served as chairman of the board from 1999 through 2007. He was named chairman emeritus in January 2007, when President George H.W. Bush was named chairman.
Read more about this topic: John C. Bogle
Famous quotes containing the word career:
“He was at a starting point which makes many a man’s career a fine subject for betting, if there were any gentlemen given to that amusement who could appreciate the complicated probabilities of an arduous purpose, with all the possible thwartings and furtherings of circumstance, all the niceties of inward balance, by which a man swings and makes his point or else is carried headlong.”
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