Thank You, Jack Bogle

When I think about Jack, I think what a huge help he was to me and to mankind. Few people can have that much influence on so many people, can improve so many lives as Jack. A lot of people talk about things, and as I get older, I realize ideas, they're pretty cheap. It's execution of the ideas is everything, and he made indexing happen for the retail investor. I think there's some lessons we can gain from Jack. They go beyond indexing, which is basically, you can be a good person and win in this business. What I think Jack'll be known for is his insistence that he could come up with a strategy that will improve the lives of the individual investor. And, it has. People are living better in retirement, are sending their kids to college easier. He saw the difficulties of beating the market with actively managed funds. He saw the incredible fees that people were being charged without any evidence of there being a corresponding benefit. He saw all of that, and was determined to do something about it. And, he did. And we all have benefited from that.