Bogle on Entrepreneurship: How Failure and Luck Created Vanguard
Book: Common Sense on Mutual Funds: Fully Updated 10th Anniversary Edition by John C. Bogle ISBN: 978-0-470-59748-4
Every origin story worth telling involves failure. And the story of Vanguard is no exception. Chapter 20 is where Bogle gets personal. He tells you how one of the most important financial companies in history was born from a mess of idealism, bad decisions, lucky breaks, and sheer stubbornness.