What the Business of Investing Is All About
Vanguard founder and former chairman Jack Bogle on how the fund industry can improve and how investors can help themselves
Dan Culloton: You've said, or strongly implied, in your most recent book, "Enough," that storing up wealth and prestige and reputation and money is really not what investing business and the business of investing should be about. What should it be about?
John Bogle: It should be about giving honest-to-god, down-to-earth human beings the chance to accomplish their own financial goals. And people have laughed. In my book, "Common Sense on Mutual Funds," the last chapter is called "On Human Beings." And somebody actually had the temerity to ask me, "Why on earth would you have a chapter about human being in a book on investing?" What can one say? What planet is this poor soul living on? That's what it's all about for me.