Jack Bogle: 5 growing dangers to investors

Paraphrasing H. L. Mencken, Mr. Bogle told the audience, “no fund marketer ever went broke by underestimating the intelligence of the American public.”
During the past year, the amount of trading in the U.S. stock market reached an all-time high of some $56 trillion dollars. Many people are born speculators — perpetually drawn in by the latest stock trend or fund design. The lesson: Beware of the power of a hot new marketing innovation to lure you in.