Robert Shiller on the death of Vanguard Founder John Bogle and how the partial government shutdown is affecting the U. S. economy.
Yale economics professor Robert Shiller on the death of Vanguard Founder John Bogle and how the partial government shutdown is affecting the U. S. economy.
H/T Dataroma
Q3 hedge fund letters, conference, scoops etc
Transcript
This is my opinion but I’m really going to say it the most honest financial giant on Wall Street has died. John Bogle founder of the famed Vanguard Group died in Bryn Mawr Pennsylvania last night. He was born the year of the great crash in Depression 1929. I was honored to know John for 20 years. He cared deeply about his customers at Vanguard. Bogle fought bitterly and often and hard against high fees and he was the king of index investing where people could have exposure to the markets but didn’t have to pay so much for it. John Bogle was eighty nine years old and he will be missed. Joining us now in a Fox Business exclusive Nobel prize winning Yale economics professor Robert Shiller also the cocreator of one of S&P CoreLogic Case Shiller National Home Price Index. And I know that you were a compatriot of Jack Bogle’s must be a tough day for you.
Yeah well I admired him.
Integrity is his living. He was living proof that there really is a long run good strategy. He argued it goes way back to his undergraduate days at Princeton. He wrote an essay about mutual funds are they serving the public all through his life. He was working to make them a better service to the public and ultimately paid off.
So right. I mean he had integrity. He was that honest guy on Wall Street. I’m glad I wasn’t overstating it but he was just one of the greatest. Let me turn and shift to what’s going on right now and we want to pick your brain a bit.
