Fundsters may not be surprised to hear that Jack Bogle
is skeptical of even Bruce Berkowitz
's ability to outperform the market long-term. The Vanguard
founder shared those sentiments and more in a recent interview with the Associated Press
' Mark Jewell.
"Berkowitz seems like an intelligent manager, and he has done well," Bogle said of the Fairholme Fund
star. "But investors who start out in their 20s today could end up investing for 70 years, since people are living longer. Well, Bruce Berkowitz is not going to be around managing funds 70 years from now ... Even Berkowitz might run into trouble, and make some bad moves. It's one of those cases where even the best generals make mistakes."
Bogle also confessed that he's "definitely slowing down, doing less travel and less speaking, deliberately," and offered his long-term predictions about the stock and bond markets.
Neil Anderson, Managing Editor
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