Be careful what you wish for. How often in life do we achieve a victory only to decide that we would have been better off without it? Game theorists speak of a winner’s curse When I was a boy, my father would challenge me by asking, “Are you sure you want that?” My grandfather … [Read more...]
We Need a Hero
The current for-profit banking system is not ideal for serving some areas of our public life. In the last blog entry (link), I offered two instances, Jack Bogle’s Vanguard Group and Andrew Carnegie’s founding of TIAA-CREF, where not-for- profit structures served dramatically … [Read more...]
John C. “Jack” Bogle is a hero
John C. “Jack” Bogle is a financial hero. His heroism benefitted millions of Americans. He founded the Vanguard Group of investment companies based on a senior thesis he wrote while a 20-year-old at Princeton. In it, he wondered why all the mutual funds were owned and controlled … [Read more...]
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