Among my greatest disappointments about the mutual fund industry - in addition to excessive costs and excessive focus … - John C. Bogle

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The opposing party rarely causes so much angst as does one's own.

John C. Bogle

Among my greatest disappointments about the mutual fund industry - in addition to excessive costs and excessive focus on the short-term - is that fund managers have been passive participants in corporate governance.

Disappointment, Focus, Fund, Governance, Greatest, Mutual Fund

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It's 1450 out of 1500 ETF funds that I just wouldn't touch because they're not diversified enough. Or they have some huge speculative twist to them that if you can guess the markets right you will do very well for a day or two but who can do that? Nobody.

1450, Day, Guess, Investing, Twists, Two

On balance, the financial system subracts value from society

Balance, Financial, Financial System, Subracts, System, Value

Managed funds are astonishingly tax-inefficient.

Astonishingly, Fund, Funds, Investing, Managed, Taxes

The business has some problems, substantial problems. You go fix it, you young people. That's what you're there for. Don't believe what the old generation tells you. We don't know a damn thing, including Bogle.

Believe, Fix, People, Problem, Substantial

While the apostles of the new so-called "behavioral" theory present ample evidence of how often human beings make irrational financial decisions, it remains to be seen whether these decisions lead to predictable errors that create systematic mispricings upon which rational investors can readily and economically capitalize.

Create, Decision, Errors, Investing, Investors, Present

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