"The most significant threat to our national security is our debt," Admiral Michael Mullen, Chairman, Joint Chiefs of Staff, August 27, 2010

Wednesday, January 23, 2019

Change – it’s obvious need – the difficulty of doing it

It appears to this guy that the FL folks may be at least trying to get some change – we’ll see.   What’s goin’ on in your neighborhood?

Thursday, January 17, 2019

John Clifton Bogle 1929 - 2019

Image result for jack bogle picture 

"Academic research supported the wisdom of indexing, but at the time, everyone in the industry thought it was the stupidest idea. I hired four Wall Street brokerages to manage the underwriting. They hoped to raise $150 million; they delivered $11.4. I thought, Oh, my God, that's not enough even to buy the stocks in the index. The underwriters suggested we cancel the fund and give the money back. I said, "Wait a minute. This is the world's first index mutual fund." So we managed to approximate the index with the money we had and kept it going. The fund is now the largest in the world."

" The one thing I wouldn't tolerate on the Vanguard crew is arrogance. That's one of the reasons I decided that everyone who was remotely qualified had to be trained to answer phone calls from investors. We had a lot of executive types who thought they were too important to do that kind of thing. They had no idea what it's like to be a shareholder."