Founder of 2nd Largest Mutual Fund Co. in World Endorses Kerry

[JPZenger]

http://www.philly.com/mld/inquirer/news/nation/10014432.htm

Jack Bogle founded Vanguard Funds, the second largest mutual fund company in the world.

Here's excerpts from an article in the Philadelphia Inquirer:

"...there's a fine line between boldness and recklessness," cautions Bogle, a Republican who intends to vote for John Kerry. Boldness must be tempered by foresight and deliberation, Bogle says. "..a good leader is thoughtful. He seeks the counsel of others and is capable of introspection. Before making a decision, he walks around it and tries to see it from all sides."

A sense of fallibility helps a leader, Bogle says. It inhibits arrogance, tames boldness so it doesn't lapse into recklessness.

"If you can't admit you're wrong, you have a problem," Bogle says, "because we're all wrong so often. Why is admitting it so awful?"
----
The article also noted that this year, Time magazine named Bogle one of the world's 100 most powerful, influential people. Bogle also chairs the National Constitution Center in Philadelphia.

The same article also includes comments by Herb Lusk, a African-American minister in a poor section of Philadelphia who has endorsed Bush. The article notes that an organization founded by Lusk has "secured $1.3 million in grants from federal sources last year."

[JuniorPlankton]

1. Nothing shocking

Plain common sense!

[Javaman]

8. Sadly, common sense isn't so common anymore.

[ima_sinnic]

2. all these endorsements and statements have got to be having

a cumulative effect on voters who might be secretly or even not so secretly questioning the wisdom of those around them who are voting Bush. I think there are many people who don't stay well-informed and just go along with their friends and co-workers--who might even be too timid &/or polite to say what they are really thinking.

There are also people who might be kind of cowed by an abusive spouse, say, who can't wait to go cast a ballot in defiance of that person's wishes.

And how can the hard-core freepers read this kind of stuff without feeling like total idiots? it must be getting lonelier and lonelier over there in the alternate universe of freeperland.

[speedoo]

3. Mr. Bogle is one of the few in the financial community...

who understands the needs of the middle class. Not only that, he does his very best to provide products that are truly in the best interests of consumers, not his own organization. He was a vocal critic of shrubco very early and this endorsement is not at all surprising.

[PROGRESSIVE1]

7. True.

The Middle Class is the backbone of the American Economy!!!

[Cha]

4. Okay, good..word is getting out that

blinky can't admit his MISTAKES!

This is really amazing coming in the Philly Inquirer!

[klook]

5. Excellent

Although other mutual fund companies have been investigated and found guilty of corrupt practices, Vanguard has always remained above suspicion. Apparently Bogle has done a good job of communicating a culture of ethical business practices throughout the organization.

Vanguard, which pioneered index funds, has done a lot to protect its investors' interests, rather than gouging them for the benefit of the company. For example, they instituted measures to protect long-term investors from the volatility introduced by day traders.

So he's a sensible, ethical businessman--no wonder he supports Kerry!

[Eurobabe]

6. Mind-bogling, eh?

* is fried crispy, setting off the smoke alarms soon.

[cliss]

9. Of course, Mr. Bogle is being prudent.

He wants to protect his funds, but he also wants to protect the average investor. He knows that this country has been on a 4-year binge of spending, looting of the treasury and otherwise insane behaviour.

Mr. Bogle knows that we can't keep it up for much longer. Certainly not 4 more years.

[ciaobox]

10. Traders know Kerry is in their best interest

Heard Bob Rubin on Charlie Rose (he is advising Kerry on finance). He said he and Clinton INTENTIONALLY crashed the bond market in the 90s as a check on Greenspan/interest rates. This is a VERY good policy for mutual funds.