The Presidential Medal of Freedom is the highest civilian award given by the U.S. government. The idea is to recognize people who have made “especially meritorious contributions to the security or national interests of the United States, world peace, cultural or other significant public or private endeavors.” In the fields of economics/business, for instance, the award has been given to many people, including Warren Buffett, Daniel Kahneman, Sam Walton, and Milton Friedman.
This week, Phil DeMuth of Forbes made the case that John Bogle should be a candidate for such an award. Not only did Bogle create the first retail index fund, he created a financial services company that, by its structure, puts client interests first — because clients are essentially the shareholders.
Demuth writes:
“An American success story, Bogle inevitably became a millionaire. Here’s what his sacrifice meant he didn’t become: a multi-billionaire. Bogle doesn’t own a private jet; he flies coach. It’s unlikely that you will read about future generations of Bogles becoming U.S. Senators or owning professional sports franchises. That money went into your pocket instead.”
- Where Is John C. Bogle’s Presidential Medal Of Freedom? from Phil DeMuth
- If you’re interested, you can sign the petition here. (I’m signature #99.)
Investing Articles
- People Still Believe in Active Management? from Jim Dahle
- Tax Alpha: How to Fix a Client Portfolio from Allan Roth
- The Sustainable Withdrawal Range (as opposed to Rate) from Dirk Cotton
- Revisiting the Optimal Distribution Glide Path from David M. Blanchett
- The Center of Gravity for Retirees from Rick Ferri
- Longevity Annuities: Their Time Has Come from Michael Finke
- Health Savings Accounts for 2015 from Jim Blankenship
- Surprising Investment Experts Who Use Index Funds from Monevator
- Fidelity Extends Free Trades to 5 More iShares ETFs from The Finance Buff
- 10 Years from Now, What Will People See as the Biggest Story in Personal Investing? (my answer, at WSJ)
Thanks for reading!
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