Originally Posted by
budwom
We would be remiss in not offering a tip of the DBR cap to John Bogle who died yesterday...head of Vanguard, he was the guy who (as many know) popularized the theory that in the long term, most investment managers don't outperform the market, so he was essentially the major proponent of index funds.
I know we could discuss/argue about this stuff all day, but I can't tell you how many people I have informally advised who are being hellaciously ripped off by ludicrously high management fees, by guys who don't match market gains (and whose prime motivation seems to be putting clients in mutual funds with high fees that pay the manager gobs of commission money for pushing their products. Ack.)
It's a national disgrace...(which is not to say that index funds are for everyone, not that there are not some good investment managers out there)...
Anyway, a tip of my warm fur hat to John...