In January, John “Jack” Bogle passed away at the age of 89. As the founder of the Vanguard Group of Investment Companies, he forged one of the true industry giants, popularizing indexing and creating a firm with $4.9 trillion in assets under management today.
Bogle founded Vanguard in 1974 and became its first chief executive. He introduced index funds in 1975. Vanguard’s unique nonprofit structure enabled the firm to keep costs down. Initially, this nonprofit entity and index fund concept seemed so out-of-step with the current investment landscape, it was referred to as “Mr. Bogle’s Folly.” In the long run, the easy, hands-on and diversified low-cost approach of index funds became the leading form of investing for mainstream investors. Legions of “Bogleheads” revered the Vanguard leader.
Mr. Bogle is quoted as saying, “Intelligent investors will use low-cost index funds to build a diversified portfolio of stocks and bonds, and they will stay the course.” We couldn’t have said it any better.
Read more about Bogle’s pioneering approach to investing.
The Alesco team’s Ben Kircher and Andrew Kay submitted the winning entry in the KitchenAid Senior PGA Championship Workplace Putting Challenge. The duo shared their humorous take on putting around the office, competing for the last doughnut in the breakroom. Congratulations to Ben and Andrew. Enjoy their winning entry!
The KitchenAid Senior PGA Champion- ship is being held May 21-26 at Oak Hill Country Club.
Alesco Adds to Growing Family
Kevin Ruster, CFA Portfolio Manager and his wife Kate Ruster welcomed twins Cook and Crosby Ruster born on November 12. Congratulations to Kevin and Kate on these delightful additions! The twins add to a streak of nine newborn baby boys at Alesco in the past six years!
On January 12, the Alesco
Advisors ROC CITY Hoops Classic was held at the Blue Cross Arena. A large and
enthusiastic crowd watched the St. Bonaventure men’s basketball team defeat
Fordham 71-64. Alesco is proud to help keep NCAA Division I basketball coming to Rochester.