My first investment in the US was in an ETF. ETFs are exchange-traded funds, its a financial instrument that comprises of combination companies with low fees. Jack Bogle’s work led to the concept of ETFs and Index funds.
Jack Bogle fought for the retail investors like us by challenging the greed of Wall Street. He was the founding father of low-cost index funds, he invented this instrument for passive investors to create wealth in the stock market. If you buy an index fund like SPY you have a very high chance of beating most actively managed mutual funds and more importantly, paying very low fees. Although main stream now, the concept of low-cost index funds was revolutionary in the 70s.
Anyone who is new to the investing and stock market should buy low-cost index funds. It’s all thanks to Jack Bogle!
Here is a video of Warren Buffet, paying a tribute to Jack Bogle.