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Quotes from a 2014 Interview of John C Bogle - Founder of Vanguard Group
John C. Bogle was the founder and retired CEO of The Vanguard Group. The Vanguard group is one of the world's largest investment funds and manages $3,600 Billion.
According to Wikipedia….John C. Bogle (click here) to verify the 3 numbered bullets below
IN a 2014 Business Insider interview John C. Bogle states...click here to verify the quotes in red.
"Jack Bogle said, "Let's start with the facts:public pensions are $4 trillion underfunded and private pensions are $800-$900 billion short."
Bogle said that "pensions are not going to get the 8% return they assume they are going to get, but 5% is a more reasonable assumption. And this 5% also excludes fees."
Further down on the interview page John C. Bogle says....
Bogle said that he expects "more and more money to go into the passive, indexing side of the financial industry as passive investing continues to outperform actively managed funds. "
The State of California's ever increasing deficit needs (in 2011) were : (much higher in 2016)
Howard Francis, Private Equity CEO & Author (3x)
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