John Bogle Right on Buy-and-Hold,
Wrong on a Federal Mutual Fund Regulator
By Ryan Ellis
•
Friday, May 29, 2009 4:27 pm
John Bogle this week spoke with conference attendees at a Morningstar Investor Conference. He touched on two items of note--one bad, one good:
- The bad: creation of a “federal standard of fiduciary duty” for all money managers because a number of mutual fund managers are “taking advantage of their position” and not looking out for their shareholders. Federal regulation is never the answer to problems in the market, Mr. Bogle
- The good: Don't move away from a buy-and-hold philosophy. Following a buy-and-hold strategy has worked well for many investors, Mr. Bogle said. The alternative — market timing — is far too risky, he said. “The cost of trading is too much,” Mr. Bogle said.
Just a quick Friday afternoon update from one of our favorite investors.
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