Jack Bogle: 5 growing dangers to investors
Money managers' greed and inattention
"In 1776, the great Scottish economist and philosopher Adam Smith warned investors to be careful, for ' . . the managers of other people’s money [rarely] watch over it with the same anxious vigilance with which . . . they watch over their own. . . . Like the stewards of a rich man, they very easily give themselves a dispensation. Negligence and profusion therefore must always prevail," Mr. Bogle said.