“Despite calls from legendary investor Bill Gross that stocks have seen their day, and despite fears that investments aren’t safe due as evidenced by the technical glitch at Knight Capital that rattled markets, stocks are a necessity in a portfolio, said Jack Bogle, founder of The Vanguard Group.
“Knight Capital is meaningless for anyone in the market for the long haul,” Bogle told CNBC. “In fact, you’re probably in a mutual fund and you can pat yourself on the back for being smart.”
Mutual funds tend to spread risk across a basket of stocks and hedges.”
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