The Game Is Rigged: Jack Bogle
Thu, Sep 29, 2011By Matt Nesto | Breakout"The game is rigged," says Jack Bogle, the octogenarian founder of The Vanguard Group. "It is too convoluted. It is too complex. You shouldn't be playing the game. You don't need to play the game."
With his paternal loyalty intact, the man who created the first index fund 35 years ago is unbending in his belief that speculators lose, and owning the broader market for the long haul is the best path to wealth appreciation. Not surprisingly, the enormous popularity and diversity of offerings within the fast growing universe of exchange traded funds or ETFs, has failed to convert him.
"The index investor doesn't need to be touched by any of the lunacy that is going on in the ETF market,"says Bogle. "The ETF industry, which has got to be the greatest marketing idea of this age, is not the greatest investment idea of this age, I can assure you."
http://finance.yahoo.com/blogs/breakout/game-rigged-jack-bogle-122640921.html%20;_ylt=AoXlthJ_MZ1F5vXBKfj1SYG7YWsA;_ylu=X3oDMTE5aDFndXBmBHBvcwM0BHNlYwNGUEJyZWFrb3V0QmxvZwRzbGsDdGhlZ2FtZWlzcmln?sec=topStories&pos=6&asset=&ccode=
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