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2008-2009
 Jack Bogle Visits Campus; Speaks in NYC
Speech Added from NYC Event
Click here to read his October 14 speech.
Click
here to view a video of Jack’s speech.
Jack Bogle ’47, former chairman of Blair’s Board
of Trustees, and founder and former chairman of The Vanguard
Group, Inc. – one of the largest mutual fund organizations
in the world – received a standing ovation after the
conclusion of his speech at Friday School Meeting on October
10.
Mr. Bogle was on campus in conjunction
with press coverage of him in The Philadelphia Inquirer and
on CBS-TV’s Sunday
Morning show. With a camera crew, producer and reporter close
behind, he toured Blair’s new Athletic and Activity Center
(read related
story) before heading to Princeton University,
his other alma mater, with Inquirer reporter Art Carey. Carey’s article ran on Sunday, October 19 (accessible
online at www.philly.com). [Stay tuned to this Web site for
details on the air time of Sunday Morning.]
In introducing him at School Meeting,
Headmaster Chan Hardwick noted that Mr. Bogle was named one
of “the world’s
100 most powerful and influential people” by Time magazine
in 2004. No doubt both the Inquirer article and CBS show will
mention Mr. Bogle’s new book, entitled Enough – due
to be released in the next few weeks – which he describes
as “his philosophical critique of American society today.” The
book title emanates from an exchange between authors Kurt Vonnegut
and Joseph Heller: While attending a party on Long Island,
Vonnegut said to Heller, “Do you know our billionaire
host made more money today than you made off of every copy
of Catch-22 ever sold?” Heller replied, “You know,
that’s OK, because I have something he’ll never
have. Enough.”
During his School Meeting address,
Mr. Bogle spoke of his abiding love for Blair since the day
he first came here as a teen, referring to the campus as
both “a little Eden” and “one
of the Seven Wonders of the World.” He spoke highly of
the Headmaster, the faculty and the administrative staff and
told them, “I envy you.”
He then turned his attention to
the global financial crisis, noting that “a price has to be paid when there is gross
financial abuse and greed.” He said he has lived through
10 bear markets in his 58-year career but that the current
climate is “different and tougher, affecting jobs and
the lives of our families.” He predicts that “the
economy will heal but not tomorrow.” Mr. Bogle also quoted
the late economist John Maynard Keynes: “He warned all
of us when he said that the games of speculation are an illusion.”
As he concluded his remarks, Mr.
Bogle again focused on Blair as well as the good fortune
he has experienced: “Life
is but a dream, as Soo Min Lee ’11 sang
on stage to us just now, but it’s not quite
true. My life has been better than any dream.”
Mr. Bogle spoke to a group of over 250 alumni and friends of Blair at The Yale Club in New York City on October 14. See photos below.
Updated 10/23/08
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