A mutual fund industry giant is helping the Obama administration with the fiduciary redefinition
That's one tidbit revealed
Steve Schaefer's interactive tour of the office of Vanguard
founder, and outspoken mutual fund industry critic, Jack Bogle
. The interactive picture of Bogle's office and Schaefer's accompanying article don't provide details as to how Bogle is contributing to the proposed regulation or the debate. Yet Saint Jack himself does offer a hint.
"I don't approve of regulation, but the financial industry has earned it the hard way by misbehaving," Bogle tells Forbes
. "It's all about giving the investor a fair shake."
Bogle also says that he loves battle and predicts that, without a big market decline, future returns will be, in the words of Forbes
, "muted for years to come."
Bogle's cluttered but mostly tidy office includes a model of a World War I era plane, a modified portrait of British Rear Admiral Horatio Nelson, tigers, and more, along with explanations.
Neil Anderson, Managing Editor
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