Sure there are some companies at the margins of our society that probably do that and I think we all have the responsibility as consumers and as investors to avoid them like the plague. If we do, they won't last very long. Doing what's right is the only possible formula for long-term - I emphasize long term - business success.
John C. BogleIt's 1450 out of 1500 ETF funds that I just wouldn't touch because they're not diversified enough. Or they have some huge speculative twist to them that if you can guess the markets right you will do very well for a day or two but who can do that? Nobody.
John C. BogleWe need a mutual fund industry with both vision and values; a vision of fiduciary duty and shareholder service, and values rooted in the proven principles of long-term investing and of trusteeship that demands integrity in serving our clients.
John C. BogleI think we all ought to be careful about too much generalization on this issue, even as I confess to painting with a pretty broad brush myself!
John C. BogleThe returns we read about in the industry sales literature vastly diminish when we move from the theoretical world of market indexes to the real world of actually investing.
John C. BogleIndex funds eliminate the risks of individual stocks, market sectors, and manager selection. Only stock market risk remains.
John C. BogleBut whatever the consensus on the EMH, I know of no serious academic, professional money manager, trained security analyst, or intelligent individual investor who would disagree with the thrust of EMH: The stock market itself is a demanding taskmaster. It sets a high hurdle that few investors can leap.
John C. Bogle