Jack Bogle, the legendary investor who founded low-cost asset management giant Vanguard more than 40 years ago, has died at the age of 89. Bogle passed away on Wednesday in his hometown of Bryn Mawr, Pennsylvania.

The Princeton graduate, who preached buy and hold investing, was considered one of the world's greatest investors. He launched the first-ever index fund in 1976 and gained huge numbers of admirers for his staunch commitment to low-cost investing.