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07-13-2017, 04:34 PM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2013
Posts: 11,078
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Changes at Vanguard
Don't know this impact any of us directly. Maybe we get a new member?
From the attached:
Vanguard Group, the world's largest mutual fund manager, said on Thursday Chief Executive Bill McNabb will step down at the end of the year and be replaced by Chief Investment Officer Tim Buckley, betting on the internal successor to oversee rapid growth.
McNabb, 60, who took the CEO job in 2008, will remain chairman of the Pennsylvania company where he oversaw massive inflows to its low-cost products, including index funds, after steering the company through the financial crisis.
Vanguard's CEO Bill McNabb Is Stepping Down | Fortune.com
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07-13-2017, 04:42 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Location: New York City
Posts: 2,838
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I just read my email, Im voting no on him, and if they let me Im writing myself in
__________________
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
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07-13-2017, 05:06 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
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Was he forced out?
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07-13-2017, 05:08 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2006
Location: Boise
Posts: 7,865
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Quote:
Originally Posted by Blue Collar Guy
I just read my email, Im voting no on him, and if they let me Im writing myself in
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Why?
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
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07-13-2017, 05:19 PM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2013
Posts: 11,078
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Quote:
Originally Posted by Fedup
Was he forced out?
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You know what I do.
The announcement said he's staying on the board. I'd guess all parties are happy.
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07-13-2017, 05:28 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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Quote:
Originally Posted by MRG
.... replaced by Chief Investment Officer Tim Buckley.......
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I'm delighted to hear that Tim Buckley is still alive. Loved his music in the 70's
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07-13-2017, 05:41 PM
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#7
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,473
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I saw that email and was concerned, at first. But it also said that McNabb took the job in 2008, and I don't recall any earthshaking changes at Vanguard in 2008.
Let's hope the same is true this time.
It said that McNabb is 60. I don't know about the rest of you, but when I was 60 I already had an intense desire to either retire or to lessen my workload by stepping down to a position of lesser responsibility, had that been possible. My guess is that this is the reason why he is stepping down from the CEO position.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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07-13-2017, 05:50 PM
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#8
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Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,198
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Quote:
Originally Posted by W2R
McNabb took the job in 2008
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So the last time Vanguard changed the top guy there was a big financial meltdown. Now they're doing it again. Hmmm...
__________________
I thought growing old would take longer.
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07-13-2017, 06:19 PM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Posts: 17,203
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LOL.... good one...
This is basically a nothing burger as some would say... I do not see them every getting someone at the top who was not into the philosophy of Vanguard...
I read it and deleted it pretty quickly....
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07-13-2017, 06:56 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Location: New York City
Posts: 2,838
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Quote:
Originally Posted by SecondCor521
Why?
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If Im elected head of Vanguard, Ill show the rest of the investing world that the majority members on this forum are index investors , If they want to join our ranks they should invest with Vanguard and retire like us . I also wrote myself in for Supreme Court Judge on the last General election. I didnt trust those scanning machines. But low and behold 1 vote was tabulated for the BCG. It was a close race, I think the winner got 11,000 Im on page 16 http://vote.nyc.ny.us/downloads/pdf/...ct%20Recap.pdf
__________________
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
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07-13-2017, 08:01 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Posts: 1,934
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Quote:
Originally Posted by MRG
Maybe we get a new member?
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He should be shunned for pushing active funds.
__________________
And if I claim to be a wise man, it surely means that I don't know.
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07-13-2017, 09:02 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2006
Location: Boise
Posts: 7,865
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__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
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07-13-2017, 09:03 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Location: New York City
Posts: 2,838
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If you scroll, you will see some people that are dead got more write in votes than I did.
__________________
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
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07-17-2017, 08:43 AM
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#14
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Full time employment: Posting here.
Join Date: Aug 2014
Posts: 584
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Quote:
Originally Posted by Blue Collar Guy
If Im elected head of Vanguard, Ill show the rest of the investing world that the majority members on this forum are index investors , If they want to join our ranks they should invest with Vanguard and retire like us . I also wrote myself in for Supreme Court Judge on the last General election. I didnt trust those scanning machines. But low and behold 1 vote was tabulated for the BCG. It was a close race, I think the winner got 11,000 Im on page 16 http://vote.nyc.ny.us/downloads/pdf/...ct%20Recap.pdf
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If you can't trust yourself then who can you trust?!
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07-17-2017, 02:14 PM
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#15
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Thinks s/he gets paid by the post
Join Date: Mar 2009
Posts: 2,983
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It's really not an issue. "Meet the new boss, same as the old boss". The Who.
__________________
Took SS at 62 and hope I live long enough to regret the decision.
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