Founder of Vanguard: Chances of Recession is high
John Bogle
John Bogle, founder of Vanguard group and creator of Index Fund talked to fortune and expressed that odds of economy going to recession is at 75%.
John Bogle at Wikipedia
The Vanguard Group
Index fund
John Bogle's Blog
A 2005 Time Q&A Article
Mr. Bogle answered questions fielded by Fortune readers and journalists and gave his opinion.
Here are few of his comments:
Consumers took $5 trillion out to real estate between 2001 and 2005 and that will not recur.
Best advice he got on investment business: “Nobody knows nuthin [about the market certainly not in the short run]”
On financial services, law and government: These institutions take money out of society, and reallocate it, but are a drag on society.
On hedge fund investing for small investors: “It would be foolish for nearly every individual investor, especially those with modest means, to try to invest in a hedge fund.”
On declining dollar: “The dollar is a shadow of what it used to be, but that will not go on forever. I'm not sure that a US investor, getting paid in dollars, buying gas in dollars, has a particular need to hedge against the U.S. dollar.”
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BJ
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15 November, 2008 08:11:55
Dosko
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04 November, 2008 09:10:56
Shah Dil Ali
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08 July, 2008 05:45:59
bum
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21 June, 2008 01:30:53
Samantha Gardner
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28 April, 2008 08:54:56
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