John Bogle

Founder of Vanguard, cited in Kyle’s notes on The Psychology of Money as the source of the book’s “Enough” parable. Bogle once told the story of a party on Shelter Island where Kurt Vonnegut tells his friend Joseph Heller that their host, a hedge fund manager, had made more money in a single day than Heller earned from Catch-22 over its whole history — to which Heller replies, “Yes, but I have something he will never have… enough.” Morgan Housel uses Bogle’s anecdote to frame what Housel calls the hardest financial skill: getting the goalpost to stop moving.

Context: John C. “Jack” Bogle (1929–2019) founded The Vanguard Group in 1974 and created the first index mutual fund available to individual investors, championing low-cost passive investing.

Where this appears

• The Psychology of Money — credited as the teller of the Heller/Vonnegut “enough” story that anchors the book’s chapter on knowing when you have enough.