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JACK BOGLE: 'Just buy the damn index fund'
REUTERS/Shannon Stapleton Jack Bogle, founder and retired CEO of The Vanguard Group, during the Global Wealth Management Summit in New York in June. The Financial Times is out with a big preview of Warren Buffett's annual investment letter.
The letter, which is set for release at the end of February, will be the 50th in as many years for Berkshire Hathaway, and it will include reflections from Buffett and his right-hand man Charlie Munger on the past 50 years as well as the next 50.
Included in the FT's profile are comments from fellow investing legends including Cliff Asness, Wells Fargo's John Stumpf, and the grandfather of indexing, Jack Bogle.
Bogle, who is never one to hold back his thoughts on the merits of passive indexing, says of Buffett's success and the efforts for future investors to replicate this success:
Beethoven could tell you how to write a symphony, but you can't write a symphony like Beethoven does. You can't copy, with any hope of success, a Beethoven or Buffett. You can copy Bogle at any moment of time. Just buy the damn index fund.
You can read the FT's full piece here »
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