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Old 01-18-2019, 04:07 PM   #238
bizaro86
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The biggest thing people don't know about Jack Bogle is that he intentionally made Vanguard a mutual. So the vanguard fund management business is actually owned by the investors in the vanguard mutual funds. Any profits go back to the fund holders.

He could have easily made Vanguard a for-profit owned by himself, and his low-cost indexing approach would have still taken off. He would easily have been a multi-billionaire, but chose to give that up to make his funds even lower cost. He basically gave those billions to his customers.
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