Charlie Ellis on the Rules of Investing
Masters in Business
00:00
The American Way of Mutual Funds
The secret of Vanguard's success is ferocious drive to not fail, says Bogle. "If you can't make a profit, why in the world would you get going?" he asks. The American way: I start a business to make a profit; if I do a good job,. people will come to my business, I'll get bigger. and it's a positive cycle. So let's also talk about what was then thought of as a fairly radical concept, mutualizing the mutual funds business.
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