Vanguard's founder, John Bogle promoted the idea that index funds such as the Vanguard 500 can outperform most actively managed funds because they have lower management fees and trading costs.
(Bloomberg) –John Bogle, who popularized the low-cost index-based mutual fund as founder of Vanguard Group Inc. and insisted that most stock-picking money managers weren't worth the fees they charged, has died. He was 89.
He died Wednesday, according to the Philadelphia Inquirer, citing his family. The cause was cancer. He suffered the first of at least six heart attacks at age 31. In 1967 he had a pacemaker installed, and in 1996 he received a heart transplant.
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