Jason Zweig, The Intelligent Investor writer for The Wall Street Journal, had a marvelous interview with a man I consider a genuine American Hero - John Bogle, founder of the Vanguard Mutual Fund Family of Funds (see it here; http://online.wsj.com/video/jack-bogle-why-mark-cuban-is-wrong-on-investing/A12A870B-7B21-42F5-BCA6-69329DDF5CA0.html?mod=WSJ_hpp_mpvidcar_2). Likewise Mr. Zweig follows up his interview with an equally as good column(http://online.wsj.com/article/SB10001424053111904103404576560913892680574.html) offering the reader additional insight and anecdotes.
Everyone out there who considers themselves a long-term investor should take advantage of this interview and column and steady themselves against what you see and hear about our financial markets. More and more our markets appear to be taken over by investment ghouls whose sole purpose is to diminish the value of investing and replace that disciplined approach with the instant gratification of "flash-trading". To me it's as if the rules of our roads were taken away and the Indy, Formula 1 and NASCAR drivers were driving with us on our own streets and highways, imagine that if you will? You and I simply wish to get from Point A to Point B, but these other drivers are allowed to drive among us at speeds that can approach 275mph! Their goal is to simply get there faster than you and in the process, maybe damage that car (mutual fund) of yours or even total it (an individual stock holder).
The SEC and CII should really be investigating all of these "dark-pools", HFT's, and ETF caused market swings. To my mind, these are what the front-runners were of the 1920's. Our long-term interests are being gamed and men like John Bogle are calling out the industry to do something about it.
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