Jason Zweig talks with Vanguard founder John Bogle in The Big Interview. Bogle defends the benefits of diversification against the likes of Mark Cuban who have taken shots against traditional portfolio management techniques. Bogle notes that some investors like Cuban can win big, but the math works against active investing. Zweig also probes Bogle on whether ETFs have bastardized the idea of index investing. By the way Bogle is still not a big fan of international equity. However he notes there is a big “apocalyptic” risk from investing in the US.
The video below: