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Article: How to get rich in the golden age of financial statistics
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- November 17, 1996
- Author:
CopyrightCopyright 1996 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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I hate to say it, living as I do in prosperous Boston, where the
money has been fairly pouring in to mutual funds, but John Bogle has
a point. Bogle is the founder of the nation's second-largest mutual
fund family, Vanguard Group, based in Valley Forge, near
Philadelphia. Last week he was in Chicago, talking to a convention
of financial journalists.
There he attacked the mutual fund industry for fanning speculative
fever among investors. In particular, he singled out proprietors of
mutual fund "supermarkets," like Boston's Fidelity Investments and
Charles Schwab Corp. of San Francisco. Fidelity, for example, offers
more than 3,300 funds, from more than 300 fund families.
Such supermarkets ...