(Reuters) – For a guy who helped create the modern investment-management industry as the founder of Vanguard Group, John “Jack” Bogle has an interesting relationship with money: He hates to use it.Bogle doesn’t care for the fancy things people often buy, and he sure doesn’t like how it has corrupted the financial system.
He thinks that everyone should save for the future, of course, but he can’t stand to spend on himself. He is happiest when he is at the family getaway in the Adirondacks with his wife, six kids and 12 grandchildren.
Or at the office, where he still works at the age of 83. Bogle’s famously hard-working and thrifty outlook is present in his new book “The Clash of the Cultures: Investment vs. Speculation,” a scathing indictment of an economy that serves to enrich Wall Street types at the expense of Main Street shareholders.
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