Bogle is rolling over in his grave.
“Bogle is rolling over in his grave.’
Yes. The new CEO was hired from outside the company for the first time in Vanguard’s history. The new CEO is from Blackrock. Vanguard’s financial advisors are encouraging clients to invest in the company’s new private equity product. They also push international funds which Bogle had little use for.
Bogle’s Vanguard was unique in focusing on low cost mutual funds, a conservative investment philosophy, and customer ownership of the company. . The Vanguard of today has buried Bogle’s concept and has decided to play with the big boy Wall Street gang - Blackrock, Fidelity and State Street. So much for the interests of the small investor.