livesoft wrote:Who to believe? Warren Buffett or Jack Bogle or someone else?
That is easy both and neither at the same time. As I have said before it is foolish to ever follow anyone just because they say so. Any intellectual person will listen to all pros and cons on either side, think about how it would affect them (worst case and best case scenarios), and then make a decision that is best for them and their particular situation.
p.s. to the OP, what I have learned throughout life is if there is a decision that is neck and neck after much contemplation the tie breaker is usually what is more conservative or less expensive.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle