Princeton Weekly Bulletin February 1, 1999
Bogle, Gomory to receive alumni awards
The 1999 recipients of Princeton's top honors for alumni are John Bogle '51, senior chair of the board of the Vanguard Group, and Sloan Foundation president Ralph Gomory, who received his Princeton PhD in 1954. Both will receive their awards and deliver addresses on Alumni Day, February 20.
Bogle will receive the Woodrow Wilson Award, given each year to the undergraduate alumnus or alumna whose career illustrates "Princeton in the Nation's Service." Gomory will receive the James Madison Medal, given each year to an alumnus or alumna of the Graduate School who has had a distinguished career, advanced the cause of education, or achieved an outstanding record of public service.
The awards will be presented at the annual Alumni Association luncheon. At 9:15 a.m. Gomory will give a talk on "Electronic Education," and at 10:30 a.m. Bogle will speak on "Changing the Rules of Investing: The Hedgehog and the Fox." Both addresses will be open to the public in Richardson Auditorium, Alexander Hall.
John Bogle, who founded the mutual fund firm The Vanguard Group in 1974, had been associated with a predecessor company since 1951. Headquartered in Malvern, Pa., the Vanguard Group is one of the two largest mutual fund organizations in the world; it comprises more than 90 mutual fund portfolios, with current assets totaling more than $430 billion.
Bogle is the author of Bogle on Mutual Funds: New Perspectives for the Intelligent Investor; his new book, Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, is to be published in March. On the Independence Standards Board since 1997, Bogle is a director of several companies, including the Princeton University Investment Co.
Gomory became president of the Alfred P. Sloan Foundation in 1989 after his retirement from IBM. Founded in 1934 by Alfred P. Sloan Jr., the foundation awards grants for programs in science and technology, as well as programs focusing on standard of living issues and economic performance. During 1997 the Sloan Foundation authorized grants totaling $50 million.
Gomory served in the Navy and was a lecturer in mathematics at Princeton before joining IBM's newly founded Research Division in 1959. During his 30 years at IBM, he directed the company's research labs in Yorktown Heights, N.Y.; San Jose, Calif.; and Zurich, Switzerland. A member of the National Academy of Sciences, National Academy of Engineering, and American Academy of Arts and Sciences, he has served on a number of presidential advisory councils.