John Bogle, the founder of Vanguard, had some interesting things to say in the New York Times article "A Mutual Fund Master, Too Worried to Rest"
“It’s urgent that people wake up,” he says. Why? This is the worst time for investors that he has ever seen — and after more than 60 years in the business, that’s saying a lot.
Start with the economy, the ultimate source of long-term stock market returns. “The economy has clouds hovering over it,” Mr. Bogle says. “And the financial system has been damaged. The risk of a black-swan event — of something unlikely but apocalyptic — is small, but it’s real.”
“Wise investors won’t try to outsmart the market,” he says. “They’ll buy index funds for the long term, and they’ll diversify.
Read the full article by clicking here
John, my attempt at the wake up is this blog and my Financial Ground Zero series.
At this point, not sure what good waking up does....and do what?
I agree with John one one thing, back to basics.