Here and Now with Robin Young and Jeremy Hobson
Public radio's live
midday news program
With sponsorship from
Mathworks - Accelerating the pace of engineering and science
Accelerating the pace
of engineering and science
Wednesday, December 12, 2012

Vanguard Founder John Bogle: ‘Stop Looking For The Next Apple — Buy Widely And Hold For Life’

John C. Bogle, retired founder of mutual fund company Vanguard. (AP/Newman Communications Inc.)

John C. Bogle, retired founder of mutual fund company Vanguard. (AP/Newman Communications Inc.)

Investment giant John Bogle says over his 60 plus years in finance, the industry has gone from investing to speculating, and the change is hurting our economy, and our society. It’s also bad for investors, especially ordinary Americans.

Bogle crunched the numbers for Here and Now’s Robin Young to show that active buying and selling of stocks leads to high costs and fees that over a lifetime eat up two thirds of what people earn from their investments. Bogle says the old advice, “buy and hold for life” is still best because the numbers show it works.

Bogle pioneered the index fund, an investment fund which buys a wide range of stocks and holds them for the long haul. The idea was ridiculed by the investment industry which called it, “Bogle’s Folly,” and called Bogle, a life-long Republican, a “communist.” But Vanguard became one of the worlds largest investment companies and re-shaped the mutual fund industry.

Now with his latest book, “The Clash of the Cultures: Investment vs. Speculation,” Bogle is also arguing for new laws to regulate finance, curb speculation, and enforce a real code of professional ethics for all financial managers.


  • John Bogle, founder of the Vanguard Group of mutual funds, and author of, “The Clash of the Cultures: Investment vs. Speculation.”

Other stories from Wednesday's show
Please follow our community rules when engaging in comment discussion on this site.

Experts share a range of perspectives on how to combat the Islamic State militant group, and the role the U.S. should play.

Robin and Jeremy

Robin Young and Jeremy Hobson host Here & Now, a live two-hour production of NPR and WBUR Boston.

November 30 5 Comments

Fighting To Get The Story Out In ‘Dateline – Saigon’

The film tells the story of five journalists who fought to reveal the truth about the Vietnam War. They all went on to win Pulitzer Prizes.

November 30 14 Comments

EmiSunshine: A Country Music Star At Age 11

The Nashville singer-songwriter talks about her music and what it's like to be a kid on tour with her family.

November 27 Comment

Books To Give As Gifts This Year

If you're looking to give a book to a friend or family member this holiday, NPR Books editor Petra Mayer shares her picks.

November 26 9 Comments

Arlo Guthrie Celebrates 50 Years Of ‘Alice’s Restaurant’

Listening to the 18-minute musical monologue has been a Thanksgiving tradition among folk music fans for decades.