Bogle Blasts Wall Street

John C. Bogle, Vanguard founder and author of the new book "Enough," says greedy banks went overboard during the latest economic crisis, providing too much cost and not enough value.

Category:

Howto & Style

Tags:

• wall
• street
• banking
• banks
• bailout
• investing
• money
• rip
• off
• scandal
• madoff
• recession
• obama
• stocks
• crisis

[zellballen]

@noodletropic I have some friends who work in private equity and the like. Most of those firms expect you to put in your entire life savings into a financial deal. Rule of thumb for investing in a hedge fund (not that I would ever have the money to do this) is to only invest with managers that have their own money at stake.

Why invest in a MF with 2.5% expense ratio, when you can invest in an index fund with and ER of 0.10%?

[zellballen]

@noodletropic I have some friends who worked in private equity and the like. Many of those firms expect you to put in your entire life savings into a financial deal. Rule of thumb for investing in a hedge fund (not that I would eer have the money to do this) is to only invest with managers that have their own money at stake.

[noodletropic]

Investment bankers never gamble with their own capital they use public capital.

Diversify your losses with mutual funds but only after paying on average a 2.5% management penalty fee.

[inachu]

It will get worse. Most jews will say - Use other peoples money....... credit credit credit.

Credit is the downfall of the American dream.

[ysangy]

awsome

[tube02148]

good one.