Vanguard founder remains an adamant champion of investors

The Leckey File

Your Money

August 01, 2004

Take heart, weary investors: While you are having breakfast, walking your dog or heading to work, thereM-Fs someone from corporate America watching out for your interests.

HeM-Fs a former chief executive officer who was never indicted, never accepted excessive rewards and never hid financial information. In fact, he despises leaders guilty of transgressions and all who aided them.

His agenda has you in mind:

Investing should be low-cost and devoid of all unreasonable fees.

There must be transparency in the policies of companies and mutual funds.

Trading should be honest, giving large and small investors an equal break.

Accounting practices must be straightforward, providing detailed and accurate information on all pertinent issues.

At more than 70 speaking engagements annually, he hits hard at current issues affecting investors. He testifies regularly before congressional and professional hearings on investment and economic policy. He is so adamant in his beliefs that he often infuriates his own industry.

Jack Bogle is his name. He founded the Vanguard Group of mutual funds in 1974.

Though Bogle retired as Vanguard senior chairman in late 1999, as president of Bogle Financial Markets Research Center he crisscrosses the country advocating investor rights and sound business ethics.

Bogle, 75, seems to have grown even more passionate since Feb. 25, 1996, when he became the recipient of a heart transplant.

In a star-crossed year for corporate leadership, may this modern Don Quixote continue to charge ahead and knock windmills to the ground in our behalf.

Andrew Leckey is a Tribune Media Services columnist. Email him at yourmoney@

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