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Wednesday, September 19, 2012

Jack Bogle - How To Fix Wall Street

Jack Bogle, the founder of mutual fund giant Vanguard, and the man who popularized index funds, is part of an older generation of financiers, including people like Warren Buffett, who believe in long-term, low-cost investing, paying their taxes, and giving away most of their money. And like many of that generation, he’s worried about how short-term thinking has corrupted the markets and endangering our economic future. His 11th book, “The Clash of Cultures: Investment vs. Speculation,” is a highly critical, numbers-driven look at how Wall Street went wrong, how it’s screwing up both the economy and our retirement prospects, and what we can do to fix things. He spoke with TIME’s Rana Foroohar about the book, and what’s rotten in the markets today.

Read more: http://business.time.com/2012/09/19/jack-bogle-speaks-on-how-to-fix-wall-street/#ixzz26v3q56C9

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