Episode 118

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Published on:

23rd Mar 2022

ReSolve Riffs with Eric Balchunas on The Bogle Effect

Our good friend Eric Balchunas (Senior ETF Analyst at Bloomberg Intelligence) joined us once again, this time to discuss his new book “The Bogle Effect: How John Bogle and Vanguard Turned Wall Street Inside Out and Saved Investors Trillions”.

We covered topics that included:

  • Bogle’s early life as a university student and his 1949 thesis
  • Becoming the young CEO of Wellington Fund at age 35
  • Bogle’s initial enthusiasm with active management before building his “passive juggernaut”
  • The beginnings of Vanguard – starting off as a “back-office company”
  • His rough yet friendly attitude to competitors
  • Vanguard as the “Amazon of asset managers”
  • Giving people what they wanted before they even knew it
  • Mutual ownership structure as a key feature of the ETF revolution
  • Growing and taking market share from “closet beta” funds
  • Vanguard took 30 years to get to USD 1 trillion in AUM, and another 15 years to get to USD 8T
  • Crypto ETFs as a possible next step for Vanguard
  • Thematic ETFs as the “hot sauce” on top of vanilla portfolios
  • And much more

This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.

 

*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

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About the Podcast

Resolve Riffs Investment Podcast
Welcome to ReSolve Riffs Investment Podcast, hosted by the team at ReSolve Global*, where evidence inspires confidence.
These podcasts will dig deep to uncover investment truths and life hacks you won’t find in the mainstream media, covering topics that appeal to left-brained robots, right-brained poets and everyone in between. In this show we interview deep thinkers in the world of quantitative finance such as Larry Swedroe, Meb Faber and many more, all with the goal of helping you reach excellence. Welcome to the journey.


*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.