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Eric Balchunas, Bloomberg's Senior ETF Analyst joins us for a conversation about his journey and discoveries in the course of writing "The Bogle Effect: How John Bogle and Vanguard Turned Wall Street Inside Out and Saved Investors Trillions."
Eric has a unique perspective as a senior ETF analyst at Bloomberg Intelligence, having researched and analyzed the Bogle Effect extensively. He is able to combine his data with interviews with Jack Bogle himself and over 50 people who knew him well, including Warren Buffett, Micheal Lewis, Cathie Wood, Cliff Asness, John Bogle Jr., Brad Katsuyama, Gus Sauter and Jason Zweig.
One of Balchunas' big takeaways is the revelation that passive investing and index funds are not to blame for the rise of passive investing, as they would not have been a big deal without Vanguard's structure, in the first place.
The Bogle Effect is a biography, analysis, and how-to guide with Balchunas as your tour guide. Through his experiences and insights, Balchunas helps investors and professionals understand the ways that Vanguard and Bogle have impacted the industry.
“He commandeered trillions of dollars, and he only made a few million himself. In the history of Wall Street, the ratio of money touched to money taken was never so high.”- Michael Lewis
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"You don't have to be brilliant, just wiser than the other guys, on average, for a long time." Charlie Munger
Welcome to Raise Your Average, our deep dive journey into learning from the people and process behind the world of investing. Through conversations with leaders in the investments game, we peel back the layers of the onion on how these holders of the keys to the kingdom allocate their time, their energy, and their dollars.
We are all students and we are all teachers. We are the average of the 5 people we spend the most time with. Come hang out with us for a while and raise your average, as we raise ours.
Music credit: In Hip Hop, Paul Velchev (8MJZA6T3LK)