Bogle on Mutual Fund Witchcraft
“The mutual fund industry has been built, in a sense, on witchcraft.”
–John C. Bogle, founder and CEO (retired), The Vanguard Group
John Bogle is the founder of The Vanguard Group, the company that’s the subject of today’s ETF Talk. Mr. Bogle is an outspoken critic of the status quo on Wall Street, and he shook things up in 1975 by creating Vanguard. He’s also known for some great pearls of wisdom, such as the criticism that the lack of transparency on the part of the mutual fund industry is akin to black magic.
Wisdom about money, investing and life can be found anywhere. If you have a good quote you’d like me to share with your fellow Weekly ETF Report readers, send it to me, along with any comments, questions and suggestions you have about my audio podcast, newsletters, seminars or anything else. Ask Doug.
In case you missed it, I encourage you to read my e-letter column from last week on Eagle Daily Investor about the results of the third quarter and their impact on the future of the market. I also invite you to comment in the space provided below my Eagle Daily Investor commentary.
All the best,
Doug Fabian
Jim Woods is a 30-plus-year veteran of the markets with varied experience as a broker, hedge fund trader, financial writer, author and newsletter editor.
His books include co-authoring, “Billion Dollar Green: Profit from the Eco Revolution,” and “The Wealth Shield: How to Invest and Protect Your Money from Another Stock Market Crash, Financial Crisis or Global Economic Collapse.” He’s also ghostwritten many books and articles, as well as edited content for some of the investment industry’s biggest luminaries. Read more about Jim Woods.
