Our mentor, Jack Bogle, is interviewed on CNBC this morning

Taylor Larimore · Post by **Taylor Larimore** » Mon Aug 08, 2011 3:16 pm

Hi Bogleheads:

Below is a link to an interview with Mr. Bogle on CNBC this morning.

This is one of his quotes:

"Don't do something. Just stand there."

http://video.cnbc.com/gallery/?video=3000037855

Leesbro63 · Post by **Leesbro63** » Mon Aug 08, 2011 3:26 pm

This was good. Thanks Taylor! On the one hand, he says "DON'T JUST DO SOMETHING...STAND THERE". On the other hand, he compares the USA with the decline of the Roman Empire but tempers that with a weak, unconvincing "but" that we are a free society that can fix our ills.

MWCA · Post by **MWCA** » Mon Aug 08, 2011 3:30 pm

Thank you! wasnt up this early today. Guess I was sleeping well. Thanks Jack

edit...Enjoyed the Cramer/Jack commentary about ETFs

unclemick · Post by **unclemick** » Mon Aug 08, 2011 3:38 pm

Yes. Thanks Taylor.

heh heh heh - football is coming! :lol:

Langkawi · Post by **Langkawi** » Mon Aug 08, 2011 3:47 pm

Leesbro63 wrote:On the other hand, he compares the USA with the decline of the Roman Empire but tempers that with a weak, unconvincing "but" that we are a free society that can fix our ills.

Personally, I was gratified that when the interviewer offered him the opportunity to "wave the flag", he demurred.

MWCA · Post by **MWCA** » Mon Aug 08, 2011 4:26 pm

unclemick wrote:Yes. Thanks Taylor.

heh heh heh - football is coming! :lol:

Yeah! Hopefully my Steelers make it back to the Superbowl.

InvestingMom · Post by **InvestingMom** » Mon Aug 08, 2011 4:46 pm

Thanks Taylor. I have not logged onto Bogleheads in quite a while (as I decided that it wasn't helping me to just stick with my asset allocation plan), but I did today to help calm my fears. Hearing Jack always helps!

hollowcave2 · Post by **hollowcave2** » Mon Aug 08, 2011 6:32 pm

Jack had a great interview. It was worth it just to hear him converse with Cramer!

Bogle has a realistic view, but also long term optimism. I share that worldview.

Bogle paraphrases Churchill, "America eventually does the right thing, but only after it's tried everything else."

Such are the times we live in.

I think we are in for some rough times, but I'm also an optimist in that I think we'll eventually right the ship.

clevername · Post by **clevername** » Mon Aug 08, 2011 7:45 pm

"...hey jack you're the father of the index fund, just a great way for people who do not have the specific instincts to pick stocks to invest..."
~Jim Cramer

I guess now it isn't even about rational analysis of the company's earnings/liabilities, management, business model etc etc but instinct! Priceless

:lol

ebeard · Post by **ebeard** » Mon Aug 08, 2011 8:03 pm

"Wall street innovations are for the innovators not the investor." - Jack Bogle.

Nice.

cjackson0 · Post by **cjackson0** » Mon Aug 08, 2011 8:24 pm

Jack was very cordial to Jim Cramer, but talk about 2 sides to the 'investing' coin. They couldn't be farther away from each other.

ajc8688 · Post by **ajc8688** » Tue Aug 09, 2011 5:10 am

Our thanks to all the die-hards bogleheads in this forum especially to Ms. Laura who helped us rebalanced our portfolio some months back. We never look back, or loose any sleep either. Now, we truly understand bogleheads' sentiment, "stick to your goals - Age to bonds and rest easy at night .... "

Truly SIMPLE is good for us.
The Carps

HardKnocker · Post by **HardKnocker** » Tue Aug 09, 2011 6:46 am

Sage wisdom from Jack Bogle.

jimkinny · Post by **jimkinny** » Tue Aug 09, 2011 6:57 am

Thanks for the link. It is always good to hear the sound and calm advice of Mr. Bogle.

What a relief from the noise.

As he said, there is too much noise and not enough long term perspective.

I think I might do what InvestingMom has done and that is not log on as frequently to this forum.

What I am going to do, is to stand there and not do anything! heh, heh, heh.....Maybe read a book or sit out in the sun by the bank of a stream.

I live in Oregon and have the day off. Beautiful country.

Let's hope for some good job reports in the coming months and stay the course.

Jim

misterlucky · Post by **misterlucky** » Tue Aug 09, 2011 7:23 am

Great interview. Taylor - thanks for posting.
CNBC should consider 23 hours of Jack, then 1 hour of the noisemakers.

2 quick points:
For those of us who rebalance in bands, this is an opportunity to do something, if it fits our plan (I exchanged some from Total Bond into Total Stock).

And second, Jack commented in general about our political mess, but at last year's BH meeting, he was correctly critical of the Supreme Court's Citizens United decision which allows huge corporate contributions to political candidates. Another step toward Roman ruin?

Leesbro63 · Post by **Leesbro63** » Tue Aug 09, 2011 7:38 am

misterlucky wrote:Great interview. Taylor - thanks for posting.
CNBC should consider 23 hours of Jack, then 1 hour of the noisemakers.

Exactly, but it would not sell soap.

Bogleheads.org

Our mentor, Jack Bogle, is interviewed on CNBC this morning

Our mentor, Jack Bogle, is interviewed on CNBC this morning

Bogle

ETF's are a terrible idea