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John Bogle to be interviewed by Bill Moyers
09-28-2007, 01:52 PM
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#1
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Full time employment: Posting here.
Join Date: Apr 2005
Posts: 646
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John Bogle to be interviewed by Bill Moyers
Just saw this is the lead story for tonight's edition of Bill Moyer's Journal:
Bill Moyers Journal . John Bogle | PBS
Should be great.
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09-28-2007, 02:24 PM
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#2
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Confused about dryer sheets
Join Date: Sep 2007
Posts: 4
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Thanks for the heads up--I'll be watching.
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09-28-2007, 05:03 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,375
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Thanks..like both those guys.
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09-28-2007, 10:29 PM
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#4
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Full time employment: Posting here.
Join Date: Nov 2005
Posts: 655
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kevink, thanks for letting me know. I'll be sure and watch it. John Bogle is my hero.
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09-29-2007, 03:06 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Location: Denver
Posts: 3,193
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If you missed it live, you can see it on Bill Moyer's site linked above.
Thanks for letting us know about this webcast
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09-29-2007, 04:39 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Posts: 1,512
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I liked that webcast, but I didn't realize Bogle was such a bear. He basically says that these are the final days of the US Empire.
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09-29-2007, 07:17 PM
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#7
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Moderator
Join Date: May 2004
Location: SW Ohio
Posts: 14,404
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A good interview. I thought Bogle's contrast of the "financial economy" with the "production economy" was very useful.
"Thanks for the link, kevink."
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09-29-2007, 07:44 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Posts: 1,512
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Quote:
Originally Posted by samclem
I thought Bogle's contrast of the "financial economy" with the "production economy" was very useful.
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It was useful to me in that I felt I should weight the financial sector more highly in my stock allocation.
This issue has bugged me for a long time. Why should I be productive if others are making more money by gaming the system? Why should I invest in production if investments in financial shenanigans will provide higher returns?
I know one guy worth a couple hundred million bucks. I don't think he's ever contributed anything to the economy. But he's made a killing by diluting share holder value and putting the difference in his pocket.
If economic self interests drive our capitalistic nation, then this guy should be a hero, I guess.
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09-29-2007, 11:14 PM
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#9
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Full time employment: Posting here.
Join Date: Jul 2004
Posts: 512
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Bogle was very interesting (as usual). And, as an added bonus, we didn't have to hear much from Moyers.
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09-29-2007, 11:49 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 3,895
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thanx for the headsup kevink. just caught the show. i like this guy very much. pleased i am already with vanguard. was good to hear him speak in the vernacular about some pretty complex issues.
i don't think he suggested an end to the american empire. what i heard was that he sees this system as inevitably self-correcting. that democracy will eventually reign in capitalism which has run amok with financial managers derailing a system by reducing value of what used to be productivity instead of riding a system which actually provides goods and services which adds value and rewarding that.
what he seems to warn is that should capitalism continue unchecked, that democracy might make this correction with violence. i assume i'll be living overseas or in a gated community by then.
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"off with their heads"~~dr. joseph-ignace guillotin
"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
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09-30-2007, 04:44 AM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 5,072
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The man makes sense. Talk about the need fro a government role... Government may not be efficient, but some greedy @$$h0!3 that is bent on depriving citizens of the intended services is in need of a severe adjustment. Like prison. Those people are just making a system that was setup to do good a national tragedy.
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09-30-2007, 11:24 AM
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#12
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Recycles dryer sheets
Join Date: Jan 2007
Posts: 284
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He scared me.
Where do we run to now?
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09-30-2007, 02:39 PM
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#13
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Bogle is very impressive, and Moyers, of course, is very concerned as always. Bogle touched on several problems, interrelated but different in emphasis. To me, a key statement he made was:
What we've done is have you know, what I call in the book, a pathological mutation of capitalism from that old traditional owners' capitalism to a new form of capitalism, which is manager's capitalism. The evidence is quite compelling that today corporations are run in a very important way to maximize the returns of its managers at the expense of its stockholders.
BILL MOYERS: Its CEOs.
JOHN BOGLE: Its CEOs, well, the upper level of five or six top officers. And they get enormous amounts of pay for actually doing very little.
Ha
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09-30-2007, 05:47 PM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2006
Posts: 7,557
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Quote:
Originally Posted by gindie
Bogle was very interesting (as usual). And, as an added bonus, we didn't have to hear much from Moyers.
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I agree normally Bill Moyer's NOW makes Fox News look really "fair and balanced" I liked how Bogle was careful to always qualify his criticisms of our current capitalism system despite Moyer's leading questions.
There is a huge middle ground between extreme left "Corporations and their robber baron CEO's are destroying America and ruining the earth" and the libertarian and corporate cheerleaders who believe that unfetter free market capitalism is the solution to all problems.
I like when business leaders like Bogle and Buffett talk about the problems we have with our current economic system in a balanced way.
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09-30-2007, 07:50 PM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,429
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Another Bogle classic. I love to hear that man talk!
My favorite quote (as I recall):
The average stock was retained by MF companies for about 7 years in the 50's when he began in the business.
The average stock owned by mutual funds is now sold in about one year.
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10-01-2007, 02:06 AM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 5,072
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Quote:
Originally Posted by mickeyd
Another Bogle classic. I love to hear that man talk!
My favorite quote (as I recall):
The average stock was retained by MF companies for about 7 years in the 50's when he began in the business.
The average stock owned by mutual funds is now sold in about one year.
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The goal today (of many large investors and investment firms) is to shake as much as one can, as quickly as they can, from the company piggy bank and throw it aside... Regardless of the consequences. I think Bogle made that point beautifully when talking about LBO and certain private equity companies... In my opinion, there is something that is a little unhealthy about the practice. I am not for protecting businesses per se... but the pillage approach seems to have too many negative consequences.
As opposed to Private Equity as incubators for new start-up entrepreneurial companies. The only problem there is the over-hype on the IPO.... caveat emptor.
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10-01-2007, 09:29 AM
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#17
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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Quote:
Originally Posted by mickeyd
Another Bogle classic. I love to hear that man talk!
My favorite quote (as I recall):
The average stock was retained by MF companies for about 7 years in the 50's when he began in the business.
The average stock owned by mutual funds is now sold in about one year.
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Remember 1999? A year was a LIFETIME to hold Yahoo..........
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Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
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10-03-2007, 09:47 AM
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#18
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Recycles dryer sheets
Join Date: Sep 2003
Posts: 114
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Joe Bageant: So rich he wants to start his own country
This relates to Bill Moyers show where John Bogle was a guest.
A little taste from the letter and response from the above link.
***
Brent,
Last week I was working with Swiss Public Television doing a documentary on "Joe Bageant's Winchester." During the process I ran into a man from one of the wealthy local families who works in global finance abroad, has some murky US State Department connection with his work, and owns a brokerage in New York. We yakked bit, he agreed that there is a worldwide financial collapse coming, then he asked what I was doing back in town. I explained we were filming my people, the people born on the wrong side of the tracks. The working grunts. "Well when they find out what has been done to them and that it can never be fixed I don't want to be in this country." I thought such a bold faced admission of our condition was pretty bad.
***
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