December 06, 2003

Quote of the Day

"I'D WARN PEOPLE that a lot of international markets are really risky. Think about the Turkish or Russian markets. Or look at France. It's a lovely country. But they don't work for much of the summer. And they have a social security and government pension program that's ferociously overextended.

So I don't see any great panacea there for investors. If people want more in international than what they get in U.S. equity funds, I certainly wouldn't begrudge them 10% to 15% dedicated to international exposure. But they definitely don't need 50% or anywhere near that amount."

-- Jack Bogle
Chairman (ret)., the Vanguard Group

Posted by Benjamin Kepple at December 6, 2003 11:48 AM | TrackBack