Jack Bogle, the legendary founder of Vanguard Group, has much more to offer than investment bromides, as you might well imagine.
He recently offered a series of leadership tips to CNBC contributor Elizabeth MacBride
- You shouldn't have to shout it. "If you have to tell people you're the leader, you're not the leader," Bogle said. He stood out by being a contrarian, MacBride noted.
- There is no success without a sense of purpose. In Bogle's case the purpose is helping individual investors build wealth, she explained.
- In the long run, work talks better than money. "I feel sorry for kids who grow up never taking a job because they have to," Bogle asserted. "There are kids too moneyed in their families, and what do they learn? Money talks. Isn't that grand."
- Be willing to roll up your sleeves. The willingness to work is just as important as the ability to work, Bogle pointed out.
Meanwhile, he expressed concern about stock market volatility earlier this month in an interview with Swiss business magazine Finanz and Wirtschaft
"We live in a very uncertain and fragile world with big risks," Bogle said. Bullishness now prevails in the stock market, but "bullish thinking changes for no apparent reason," he said. "The market seems to have taken on a nervous cast and there is very little anybody can do about that."
Bullishness now prevails in the stock market, but "bullish thinking changes for no apparent reason," Bogle says. "The market seems to have taken on a nervous cast and there is very little anybody can do about that."
And what dangers do stocks now face?
"There are financial risks, economic risks and the risk of war rising all over the world," Bogle noted.
"I’ve been saying for several years that we have a stock market that seems to be ignoring those kind of risks. I think we’re seeing a turn in lower global economic growth and a turn in lower corporate earnings."
While he doesn't expect a 25 or 30 percent drop in stocks, "it easily could" occur.
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