Berkshire Hathaway Inc (BRK.B)

[bar1080]

"Bogle [RIP] will soon have saved investors over $1-trillion"

"It is difficult to quantify the importance of Jack Bogle, the founder of Vanguard and inventor of the index fund, who died on Wednesday at age 89. As Warren Buffett put it, no one had done more for American investors than Bogle. He made investing ultra-cheap, accessible, and simple enough to get people involved.

"One way to put a number on it is to try to figure out how much he has saved Vanguard investors in mutual fund expenses. Vanguard Group, based in Malvern, Pa., is one of the largest investment firms in the world, with more than $5 trillion in assets under management, and 20 million customers.

"The number is currently around a half a trillion dollars and likely to hit $1 trillion by 2023 (that’s $1,000,000,000,000)."

"And then, there’s the competition element, called the “Vanguard effect.” With lower fees, other companies try to compete and race to the bottom. Schwab, Fidelity, State Street, and many more all offer products that compete with Vanguard’s low prices. But the credit for this can all go back to Bogle’s revolutionary move in 1976 to start an index fund."

"As Buffett said, "If a statue is ever erected to honor the person who has done the most for American investors, the handsdown choice should be Jack Bogle.”"

https://finance.yahoo.com/news/jack-bogle-will-soon-have-saved-investors-over-1-trillion-194426136.html