Is modern day America really like the Roman Empire just before it fell? According to fund giant Vanguard's founder, Jack Bogle, the chaos in today's financial markets leads him to say "yes." The index-fund champion, and author of The Battle for the Soul of Capitalism sat down with TheStreet’s Gregg Greenberg to talk high mutual fund fees and about how investors can protect themselves.
Bogle, a Wall Street veteran, feels today’s market is not the best that it can be. According to Bogle, mutual-fund managers are ripping off shareholders by taking half of their barely 5% return while young companies like Google (GOOG) are turning the market upside down with their rapid growth models: “The pace is enormously fast and very destructive to many corporations.”
So what is an investor to do? Start by checking out Bogle's complete interview here.