John Bogle, who popularised the low-cost index-based mutual fund as founder of Vanguard Group and insisted that most stock-picking money managers weren't worth the fees they charged, has died. He was 89.
He died Wednesday, according to the Philadelphia Inquirer, citing his family. The cause was cancer. 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.
