He is a hero to investors and a royal pain to money managers. Thirty years ago, John Bogle founded the Vanguard Group and invented the index fund--a low-cost option that revolutionized investing. At 76, he's still an iconoclast, most recently in The Battle for the Soul of Capitalism, which is coming out this fall (Yale University Press). He talked to TIME's Barbara Kiviat.
WHAT'S SO WRONG WITH CAPITALISM TODAY?
The rewards paid to managers have gotten completely out of hand. The way to get rich is to take advantage of loose accounting and give the market earnings guidance, so the stock...
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