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John Bogle, Vanguard Founder Who Urged Low Fees, Dies at 89

  • He pioneered index funds, making Vanguard No. 1 fund manager
  • Warren Buffett called Bogle a ‘hero’ who helped U.S. investors
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Don Phillips, former CEO of Morningstar, and Dan Wiener, CEO at Adviser Investments, remember Jack Bogle.Daybreak: Americas." (Source: Bloomberg)
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John Bogle, who popularized the low-cost index-based mutual fund as founder of Vanguard Group Inc. and insisted that most stock-picking money managers weren’t worth the fees they charged, has died. He was 89.

He died Wednesday in Bryn Mawr, Pennsylvania, the company announced in a statement. The cause was cancer, according to the the Philadelphia Inquirer, citing his family. He suffered the first of at least six heart attacks at age 31. In 1967 he had a pacemaker installed, and in 1996 he received a heart transplant.