John Bogle on Investing

Vanguards John Bogle talks about the rampant amount of speculation and the severity of the markets problems.  He has never seen anything like it before, in terms of volatility and speculation.  He attributes the high levels of volatility to the fact that the market has shifted from an investors market to a speculators market.  At the end of the day, only the investors will be hurt as the only winner is Wall Street, who will reap high levels of commissions. 

He thinks it is unfortunate that there will be government intervention into the financial markets, but suggests that is the only source of liquidity left.  He says that this is the worst financial crisis since the great depression.

From an investing point of view, Bogle suggests that investors should not change their strategy for the long run.  Bogle goes on to discuss his new book, "Enough".  The book is Bogle's critique of the American society today in terms of how we think about money, how the financial system is conducted, how business is conducted, and even about how we conduct our own lives.  Its more of a philosophical book about improving our society as a whole.
Tim Ord
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