Fundsters following Jack Bogle
's latest public attacks on the mutual fund industry may want to take a look at Dow Jones
today. Al Lewis interviews
] founder and offers some quotable snippets from Bogle's ninth book, Don't Count On It: Reflections on Investment Illusions, Indexing, Capitalism, 'Mutual' Funds, Entrepreneurship, Idealism and More
, just released this month.
Bogle told Dow Jones that he wants a "federal standard of fiduciary duty" for mutual fund firms, so that "these money managers behave as trustees." And he argued for more shareholder activism from mutual fund firms.
"It's not going to be easy to get any mutual funds to stand up and be counted in corporate governance matters," Bogle told Dow Jones.
Neil Anderson, Managing Editor
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