This story appears in the June 29, 2014 issue of Forbes. Subscribe
John C. Bogle
Age: 85
Founder, Vanguard
Indispensible Wisdom: It's the fees, stupid
Nicknames: Jack, Saint Jack (used by supporters and detractors alike)
Money Quote: "Don't let the miracle of long-term compounding of returns be overwhelmed by the tyranny of long-term compounding of costs."
Fundamentals: When he launched the first retail stock index fund, the Vanguard 500, in 1976, it was derided by some as "Bogle's Folly." But thanks to a 1996 heart transplant, Bogle has lived to see widespread acceptance of his disruptive idea--that since you can't beat the market, low costs are all that matter. The Vanguard Group is now the world's largest mutual fund family, with $2.6 trillion under management.
Invest Like Bogle: Allocate between Vanguard