What if everybody indexed?
As a financial advisor, I receive several emails each day from mutual fund companies, insurance companies, etc. I got one today from MFS that included this provocative (to me) quote attributed to John C. Bogle, founder of The Vanguard Group: “If everybody indexed, the only word you could use is chaos, catastrophe. The markets would fail.” As MFS offers actively managed mutual funds, I find this marketing tactic amusing. This email is supposed to compel me to register for a WebEx to learn “what everybody is missing about the active/passive debate”.
I have not done business with MFS for many years, but may tune in to the WebEx with the hopes of learning something. In the mean time Cullen – what do you think about Bogle’s statement? (I know you have commented on similar concerns expressed by other “experts”, but don’t recall if you mentioned Bogle’s comment specifically.)
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