Sunday, August 25, 2013

Vanguard’s Bogle responds to ‘parasite’ tag

John Bogle, Financial times

John Bogle, founder of Vanguard Group, respond to an article of a fund manager, David Smith, who described the index mutual fund as a “passive parasite”. Mr Bogle explains that active management has higher fees than passive management and consumes a huge percentage of the annual returns.

Read the Article