Jack Bogle, founder of the Vanguard Group and author of “The Clash of the Cultures: Investment Versus Speculation,” says that investors should not be shaken by the economy, the election or the fiscal cliff and should, instead, stay focused on buying good businesses for the long haul, regardless of market conditions.
“Get out of the casino, own Corporate America and hold it forever,” Bogle said during “The Big Interview” on MoneyLife with Chuck Jaffe. “No trading, no nothing. You don’t need to trade; you don’t need to worry about the market. To protect yourself from the bumps the stock market will scare you with – even though it shouldn’t scare you because there have been bumps in the market since the beginning of time – have a bond position to go along with your stock position, and have your bond position [the proportion of your assets in bonds] … have something to do with your age.”
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