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More about our Bogle Dinner in Miami
Taylor Larimore 03-12-2000, 9:33 PM | Post #22233 | 
Hi Everyone:
I thought you might like to know a little background about our extraordinary Miami reunion with Mr Bogle (and fund experts Frank Armstrong and Olivia Barbee).

It probably began with Vanguard Forum Conversation # 1 in March 1998. At that time the busiest Morningstar forum was the Investment Basics Forum started, nearly a year earlier, in June of 1997. The Vanguard Forum now has 30,102 postings vs. 23,491 for the Basic Forum. Knowledgeable investors want to know more about Vanguard.

The success of the Vanguard Forum caught the eye of Mr Bogle. However, it wasn't until our Thanksgiving Conversation # 3714, when we gave thanks to Mr Bogle and his company, that Mr Bogle responded in Conversation # 3742. He said:

"Would there be any interest in a Bogleheads conference for a day--. Perhaps the spirit of Thanksgiving is overwhelming my good judgement!"

Jenny, myself, and others have been in communication with Mr Bogle's office regarding his offer. The Miami Money Show presented the opportunity.

Mel and I decided we would underwrite a Boglehead luncheon during the Money Show. I think this is a first for any forum on the worldwide net. We had no idea how many would accept our invitation to a "free lunch" with the most respected mutual fund executive in the world. Mel and I agreed our forum was worth whatever it cost.

We had hundred's of responses from Forum members who wanted, but could not, attend. Finally, we had 20 hard-core Boglehead's committed. This offered an opportunity for an intimate dinner with Mr Bogle at our home. Despite several other invitations, Mr Bogle choose to spend his evening with us. And what an evening it was--

Here is some of his investing advice:

1. Investing is not nearly as difficult as it looks.

2. Strive for simplicity.

3. Diversify.

4. The eternal triangle: risk, return, and cost.

5. Returns regress to the mean average.

6. Think long term.

7. You rarely know more than the market.

8. Consider index funds first.

9. Buy right--then hold tight.

10. Do the right thing--it works.

11. The enemy of a good plan--is the perfect plan.

Words simply cannot describe how much each of us will treasure our evening with our friend, and humble gentleman, who has been called: "The Icon of Mutual Fund Investing"; "The Fund Investor's Best Friend"; and "The Concience of the Industry".

We thank you, Mr Bogle.

Taylor Larimore

Originally posted in thread: 4997
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