MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, October 19, 2011 Bogle Gives Gross a Backhand Compliment Morningstar's Christine Benz recently caught up with Vanguard's[see profile] founder Jack Bogle at the annual Bogleheads Conference, to gauge his outlook on the stock market and his opinion on bond luminary Bill Gross. On the stock market's future, Bogle said he's optimistically forecasting a seven percent outlook for stocks over the next decade, "which is not bad, because you are going to double your money, in nominal terms again, double your money over a decade if we are fortunate to get that 7% return." Bogle also gave Bill Gross a backhanded compliment saying that: "I have great respect for Bill Gross, but he happens to be about, I think, 400-500 basis points behind the Total Bond Market Fund this year, because he didn't like Treasuries. He'd be the first to say he was wrong at least in the short-term, and I mean no disrespect for him. He is one of the great managers of all times and his [colleague], El-Erian, is also I think pretty terrific, but that can happen anywhere." Printed from: MFWire.com/story.asp?s=38097 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |