AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
4min chapter
#57 John Bogle: Stay the Course: The Story of Vanguard and the Index Revolution
Founders
The Importance of Motive and Opportunity
Vogel: Paul Samuelson's challenge struck me like a bolt of lightning, igniting my conviction that Upstart Vanguard had a remarkable, even unique opportunity to operate a passively managed low-cost index fund and have the market to ourselves for at least a few years. None of our competitors in the mutual fund industry wanted to start a low-cost, indeed at-cost mutual fund. Only Vanguard had both the opportunity and the motive. He foregoed a metric shit ton of profits and gave it back to his customers.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode