When Google was about to go public one of its managers realized that the financial buzzards would be circling looking for fresh meat. Google did something very few companies could or would do. They brought in the heavyweight legends of intelligent investing before they let the rest of the rabble have a go at their employees. How many companies could get John Bogle, the messiah of index funds, to speak in house?
I've been fighting a battle with our HR department to get index funds added to our 401(k) options, so this story was made an especially large impact on me.
I also think it just might be the tipping point that causes me to fire my financial adviser. I'm going to run the numbers and compare my return against the market. The current bear market is the real crucible now. Anyone can make money in a bull market, but the bear market should reveal any hidden weaknesses in my current funds. Did I mention I'm also tired of paying 4.5% up front for management fees?
Here's the link to the story in San Francisco magazine:
The best investment advice you'll never get
It's worth noting that San Fransisco is home to Wells Fargo, which is the progenitor of the index fund, even if Bogle seems to get the credit most of the time.
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