Just sharing an interesting article on Vanguard's founder Jonh Bogle's life history. He is the founder of Vanguard mutual funds. Always like this company for IRAs and mutual funds for their low cost. He also invented index funds. His comments about interest rates, bonds and long term investing are right on too!
"VANGUARD, the penny-pinching mutual fund company founded by John C. Bogle, has become a colossus. Its index funds — once derided for not even trying to beat the market — are now the industry standard.
Mr. Bogle also tried to ensure that Vanguard funds would always be cheap to buy and hold. While Vanguard is his baby, he has never had an ownership stake in it aside from the shares he holds in its mutual funds. Vanguard fund shareholders own the place collectively because he planned it that way.
“Strategy follows structure,” he says, explaining that with no parent company or private owners to siphon profits, Vanguard can keep costs lower than anyone else. That was always his goal.
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Probably one of the most successful non-profit, private companies in the world. Sorta like the credit union model.
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