he no longer has an executive role at vanguard. he runs a research center on the company's campus.ing books and evangelizes to anyone who will listen about the virtue of low cost buy-and-hold long-term investing, a real t-rex in a world of flash boy traders. >>> jack bogle, number nine in valley forge, welcome. good to have you with us. >>e great to be there. i love that introduction. >> did we get it right? >> a little too generous. it made me feel kind of puffed up, which is not the way i usually feel, but it was beautifully done. >> we didn't mean to editorialize that like by you shouldn't be alive, but there are probably some in your industry that wish you weren't, right? >> i think that's probably true. >> jack, let me start with a question. you've had a long career dating back to the 1950s, when you wrote your princeton thesis about indexing and low-cost investing. as you look back, what did you get right and what did you get wrong? >> well, when i got right, it was not only the index fund, a product of a simple mind, you know, if i had been some kind of genius, i would have

if you don't tend to keep nazi networking hubs in your head, the reason why this vanguard group might sound familiar is because of this news story you might remember. this was the martin luther king day parade in spokane, washington, in 2011. a 36-year-old white supremacist packed fishing weights and other shrapnel dipped into rat poison into a backpack bomb and left it on the scene of the martin luther king day parade in spokane in 2011. he pled guilty later that year. he was sentenced to 32 years in prison. part of what prosecutors used to try to influence the judge in his case to lengthen his sentence is that after he was arrested in spokane, once he was in jail on suspicion of having been the bomber of the martin luther king day parade, that confessed bomber from jail exchanged letters with the guy who shot up the two jewish facilities and killed those three people this weekend in kansas city. frazier glen cross wrote to the mlk day bomber and offered to be a character witness. offered to set up a defense fund for him. did media interviews about the mlk bomber case, telling talkin

i would just caution you about speaking of yourself and your organization as a vanguard. there are many environmental justice groups that have been working on issues of climate change and climate justice for many, many years. i think 350 bay area is a critical organization that's really been taking a lead on many levels and i would just caution you to speak in those terms of yourself. the young people that have been at the white house and were today protesting the key stone excel i think are really taking a lead. and my hope is that the whole environmental movement can really embrace younger people, environmental justice groups, native american nations and others as we all move forward together. but i really appreciate all the work of [speaker not understood] strong and really better commitments from the bay area air quality management district and the leadership that you guys show, but also in the interest of building a broader environmental movement for the future of all of our communities, but thank you. >> okay. do we have any other items before us? and did you the pu

founder of vanguard. we hope to see you soon.o i think will be leaving the investment industry, because really his calling is being a television anchor. sorry, erik. if you missed any of the interviews, you can watch them on amazon fire tv and apple tv. at bloomberg, we are tech savvy. you can watch on demand, streaming, from your ipad. stay with us. ♪ >> welcome back today special edition of "market makers." we are wrapping up with cliff asness. peeves in theet financial journal. one of them is something that we sadly in the media use all the time. guys on the sidelines. i cannot with an editorial and they told me to come up with 10 things that i was mad about. one of them was certain phrases i do not like. the reason i do not like the phrase cash on the sidelines, in the short to medium-term, there is no such thing. you have money in a money market fund and you want to buy stocks. you buy stocks. what does that person now have? they have cash. they either put it on the sidelines or by another stock. then that person has cash. i

can menses post adolescent access i'd like any that is those of the children of all pioneers the vanguard of democracy. when he looked wes he did not see a place but an idea writed in a mystical tradition. he and his disciples believed american civilization would march inevitably to the pacific and the continent's limitless supply by be settled by cuban farmers who embodied the egalitarian spirit of course, the reality was more complicated. it contains lead and then resisted cultivation and indians resisted extermination. as the light of settlements inched forward past the mississippi them a the rockies said jeffersonian dream empire of liberty began to look like prophecy. even throat when departed for a daily walk help to go in a westerly direction. the future is that way and the earth seems more exhausted -- not quite as exhaust on that side mark twain reached adulthood at the best possible time as the country embarked the most extraordinary period of change in history he was a westerner by birth raised on the misery frontier and the outbreak of the civil war forced him west as he fled

we're back with vanguard founder jack bogle. still with us?ou always. >> you were analyzing the pluses and minuses of high frequency trading. you've long been the champion of the small investor out there. should they be concerned at all about high frequency trading? does it give them a bum deal? >> i don't believe that's the case. actually the way our order system works is smaller orders get taken care of much better than those great big ones. there is in high frequency trading certain amount of front running. we don't know how much that is. we don't know how many orders are cancelled. maybe that's half of all orders that go into the system. we do know somebody gets a penny break, it's paid for by somebody else and one party gets the advantage and one party gets the disadvantage. usually the nature of a penny. i don't see how it's the end of the world. i do think in the long run it's good for fund investors in this sense. it's the cap stone of half a -- >> are you kidding me? >> third time is the charm, maybe? >> wow. that is crazy. all right.

>> vanguard equity income.it's a great way to play the broad market and get dividends. >> i hope everyone has a very special easter. come back make some money. >>> if you make under $250,000, you will not see your taxes increase by one single dime. not your income tax, not your payroll tax. not your capital gains tax. no tax. >> flash forward to 2014, a new report from americans for tax reform revealing that president obama sought 442 tax increases since taking office. that doesn't include the ones he actually signed into law. ask americans what they think and more than half say they already pay too much. is it time to end the tax hikes and bring on a flat tax. once and for all. i'm david

bienes raices que dicen es responsable de varios desalojos 32:11 hasta las oficinas de la firma vanguards en la mission de san francisco llegaron hoy manifestantes que luchan porque se pare la ola de desalojos en la ciudad.... silvia ramirez/inquilina en san francisco 0:25 5:34 lo injusto es que los que tienen dinero se estan aduenando aqui del distrito de la mission y a los pobres nos estan echando pafuera 5:40 dicen que el cofundador de esta firma esta detras de varios desalojos usando la ley ellis.... edwin lindo/se unio a la manifestacion 0:35 40:44 casi 60 gente, 20 unidades en san francisco solo en los ultimos dos anos eso no se mira grande pero cuando lo multiplicas con otras corporaciones que estan haciendo la misma cosa estamos hablando de miles de gentes 41:02 miembros de la firma se abstuvieron de hacer comentarios. a la vez hoy se conocio un reporte de la organizacion tenants together, segun el cual... 51 por ciento de los desalojos con esta ley, han sido hechos por duenos durante su primer ano como propietarios... 30 por ciento ha sido efectuado por firmas que han comprado y

>> vanguard equity income. it's a great way to play the broad market and get dividends. >> i hope everyone has a very special easter. come back make some money. >>> if you make under $250,000, you will not see your taxes increase by one single dime. not your income tax, not your payroll tax. not your capital gains tax. no tax. >> flash forward to 2014, a new report from americans for tax reform revealing that president obama sought 442 tax increases since taking office. that doesn't include the ones he actually signed into law. ask americans what they think and more than half say they already pay too much. is it time to end the tax hikes and bring on a flat tax. once and for all. i'm david asman. welcome to forbes on fox. let's go. 440 new taxes and a lot of small business folks, this is death by 1,000 cuts. >> yeah, the last time they tried to simplify the code back in 1986 they did a little bit. since then it's changed 15,000 times. tax code is an abomination and hurts people from getting better paying jobs.

. >> translation: he placed latin american literature, the vanguard of world literature. he untangled the essence of the lern and gave it to the world. millions learnt and loved latin america thanks to his literature. >> outside mexico city's palace of fine hearts, people waited in line to go inside. >> we used to play music and came to say farewell. >> reporter: there are thousands here carrying yellow flowers. not just because it is a favourite. but because they could not bring butterflies. this is a clear reference to an endearing character. a love-struck young man who was follow by clouds of butterflies. >> thousands of kilometres away in a columbian town, where his widely read novel was loosely set. people paying tribute to his favourite tonne. >> gabriel garcia marquez was built here, insisting his stories were rooted in reality. >> you are reading in a novel that suddenly it rained flowers around town. there are a lot of legends. it's like a common landscape. it is magical. >> in the later years he told friend that what worried him about dying was not being able to

chairman of the student nonviolent coordinating committee which has always been on the progress of vanguard of the civil rights movement founded by yang stevens bushing the civil-rights establishment. by the mid to late 1860's a research question of who they are is an organization. they are exceptionally frustrated with what they see as a very slow pace in terms of the reforms of the civil rights act as been passed among the voting rights act has been passed, but they don't see it being enforced and forced the legislation is on the books. rather than seeing the president as the airline a chance to see him as an enemy. they don't care anymore about lobbying when america. it don't care about appealing to the national council -- conscience. they're much more concerned with developing lakers' a local scale. they don't define themselves by the idea of a mass march anymore. by the same token, when he gets shot the recognize an opportunity. the march will be traveling through mississippi. he has done the most organizing, in particular the mississippi delta. they diverge to a mississippi delta. saw

but it would still lag well behind fund giants like vanguard group with nearly $3 trillion under management and blackrock which reported $4 trillion last year. bertha koombs, "nightly business report". >>> google said it agreed to buy titan aerospace. that's where we gin tonight's market focus. internet search giant wants to use the high altitude solar-powered drones to collect images and get more of the world's population online. no word on how much google paid for titan. facebook did end up purchasing its own drone company so there it is called assenta. google shares rose 1.5% to $545.20. more on facebook. it's apparently no longer content with being just the largest social media site. it's preparing to provide online financial services starting in ireland. facebook just needs the approval of the irish regulatory board to offer users several types of financial transactions online. shares of facebook up slightly today. web md said it expects to report strong first quarter results at the end of the month. anticipates reaching the upper end of its annual earnings and revenue projection. the

so, we are coming here to you as kind of the vanguard of this, but eventually this will be a very mundane and tedious rule making process pushing you to have more clean power, have more local power and reduce emissions. we're trying to get this started sooner than later [inaudible]. >> thank you. next speaker, please. >>> good afternoon again, commissioners. eric brooks. so, i just wanted to encourage the lafco in any energy endeavors that it goes forward with to definitely -- since he spoke today, you probably know that one of the recommendationses we made to you folks is to use department of environment staff as well. we've seen that they have been ready to go on program like cleanpowersf and doing other renewable energy projects and efficiency projects and their involvement will be key.

i don't want to talk to someone .ho owns 8/10 of one percent i want to talk to fidelity and vanguard.o'neill himself out once per year at the annual meeting to face questions from shareholders? >> in the past year he met with investors as proxy. my issue with the big banks is they have got to get around the corners of it here you go ahead and ceo meet with investors one-on-one. my point is that we as investors can only hold the boards publicly accountable. that is what is important. a lot has been written about annual meetings for retail investors. they should also be for institutional investors. >> john, if you were an insurance company, if you had a pension and endowment right now, could you look at blackrock, vanguard, and say that they were asleep at the wheel? you guys are here more than anyone. >> there is a lot of what i call closed door activism, or behind-the-scenes activism. i that i mean all the people that you just named, these pension funds are thrilled with the likes of the people you have talked about this morning. they totally agree with mike. they want these big, thes

would have outperformed a lot of hedge funds, and mutual funds, if you just put your money into vanguardr state street index fund 5 years ago you would be up up to to 4 times, those people ins to be out perform it have not done well. that is another reason people stay away. lou: your council to those who have courage or moxie to be investing at-this-point, are who are justin different, i guess -- indifferent to the warning signs i. >> i would say idea of having a little bit in an index fund, if you have $100 in cash, you put a little bit in an index fund or bought high quality companies like microsoft or apple. companies like johnson & johnson, berkshire hathaway, they are great companies they sell -- they have a lot of them veryat cash dividend yields, better than what people get in the instruments they own right now, these are -- really quite safe, relative to -- i would say bond market right now is risky. lou: michael holland good to see you. >> thank you, a great tie. lou: thank you, listen to my financial reports three times a day on sal salem radio network. join us for those report

please children at higher layers, the vanguard of the democracy.hen with men looked west he didn't see a place he saw an idea in the mystical tradition as the country itself. thomas jefferson had been the founder to be at he end of the disciples believed that american civilization would march towards the pacific and the continent's supply of the land would be settled by human farmers who embodied the nation's egalitarian spirit. of course the reality was more complicated. the region contained land that resisted the cultivation and indians that resisted extermination but as the line of the settlement moved forward past the alleghenies and the mississippi than the rockies the jeffersonian dream of the westport empire of liberty began to look like a prophecy. even henry david when departing for his walk felt drawn in a westerly direction. the future that lies that way to me into the earth seems more unexhausted and rich on that side. mark twain was born in 1835 and reached his young adult hood at the best possible time as the country embarked on the m

. >> translator: he placed latin america literature at the vanguard of world literature.ons of people on other continents and languages have learned about and love latin america thanks to his literature. >> reporter: outside mexico city's palace of fine arts people waited in endless lines to go inside. >> translator: we used to play and sing at his house. he loved columbia, and we came to say farewell. >> reporter: there are thousands of people also carrying flowers, this, i'm told, because they could not bring butterflies, in reference to one of his novels. thousands of kilometers away in this town where his most widely read novel was loosely set, people were also paying tribute to their most favorite son. he always insisted no matter how fantastical his stories they were also rooted in reality. >> we have a lot of legends about flowers raining around town. but we have many legends about that. >> reporter: in his later years he told friends that what worried him most about dying, was not being able to die in love. still the 87-year-old writer would have perhapsed been pl

led by a vanguard. >> what was the atmosphere like? >> it was a place where a lot of hood lumhoodlums would hang out. some of the shop owners abandoned the place and they left a lot of goods. >> how would you characteristic the ar transformation of tijuana? >> we didn't even think about it. every ten, 12 years it reinvents itself. >> this latest reinvention is an unlikely one. when the tourists and party goers left, a home grown renaissance took place. >> tijuana used to be supported by people coming from other places, especially tourism. at one point with the violence that erupted here in the city, it all went away. >> roberto mendoza is one of the most famous musicians in mexico, mendoza is a lifelong resident of tijuana. >> what has changed in the last few years when it comes to the art scene? >> tijuana is happening especially with local people. it's really interesting. you don't see a lot of tourists but a lot of locals. from the clubs bars, restaurants, new faces and generations growing up and people just enjoying the city. that'

and there's plenty of hypocrisy to go around, as a liberal vanguard tries to keep its employees from joining a labor union. the grapevine is next. one signature shrimp dish, and a pasta. all on one plate. three delicious choices. all for $15.99 for a limited time only! come sea food differently today! we cannot let the fans down. don't worry! the united states postal service will get it there on time with priority mail flat rate shipping. our priority has always been saving the day. because our priority... amazing! ...is you! the amazing spider-man 2 delivered by the united states postal service. >>> this is a fox news alert. potentially deadly tornadoes and thunderstorms are threatening large portions of the south right now. let's go to the fox news desk in new york and shepard smith. >> it's stretching from louisiana all the way up through tennessee, tupelo, mississippi got hit just in the last hour and a half or so. some video coming in from there. there was a wide storm that hurt a lot of people. the governor of mississippi spoke just a short time ago, said six people are in area

has been operating as a lone operator although in tandem with a neo-nazi van site in particular vanguard national news. >> and we heard the concerns, pete, as we head into passover at sundown, and in new york, the mayor was going to take steps to secure the jewish institutions here in new york, and how large is the concern, and what the federal government is looking for? >> well, it is based spirely just on a concern that there may be copycats, and other people may be emboldened by it. that is as simple as it is. it is a step that is often taken anyway around the big jewish holidays in the big cities. so it is not difficult to do, because they have dope it before. and as you talked to marc about it, we know that they live everyday and until they do something we forget about it, but there are incidents like this targeting the jewish groups, and the buford ferraro shooting, a few years ago, and these are a reminder that they are out there. >> and we are stund about this connecti connection, because we don't pay attention it to on a day-to-day b basis, and frankly, someone in the seat of a

. >> he placed latin american literature the vanguard of world literature and untangled the essence anddentity of latin america and projected it to the entire world. many have learned about and loved latin america thanks to his literature. >> outside of mexico city's palace of fine arts people waited in endless lines to go inside. [♪ singing ] >> we used to play and sing at hotels. we come to say farewell. >> there are also thousands of people here carrying yellow flowers, not just because they were gabrielle garcia marquez's favorites but because they could not bring butterflies. thousand was kilometers away in the town where his most widely read novel was loosely set people are paying tribute to their most famous son. gabrielle garcia marquez was born here and always insisted no matter how fantasticcal his story they were rooted from here. >> we have a lot of legends about that, so it's our common landscape. our common landscape is magical. >> reporter: in his later years garcia marquez told friends what worried him most about dying is not being able to die in love. still, the 87-year

what they describe as nonlethal military aid, vehicles, armor, intelligence, they're also part of a vanguardf defense officials who too often counsel military endanglements with foreign enforcements that are hard to walk back. do we need a generation of ukrainian soldiers disenchanted with america's role in the region, but fortified by american support. can we understand the implications of that ten years from now, 20 years from now. to dive into the reasons to engage, and the reasons not to, are jeffrey sachs, the columbia university economist, and adviser to the russian government, and former u.n. ambassador bill richardson. professor sachs, you were just in ukraine a week ago. how desperately do these forces there need support? >> well, the situation is as dangerous as we just saw. and if putin either uses these proxies or steps over the eastern boundary of ukraine, i think the consequences are going to be unavoidably pretty devastating. but i think the first stop is going to be a complete economic war. that would be my guess. >> i want to get to the economic implications of this. governo

the founder of the vanguard high-frequency trading has helped the individual investor by pushing down costs. commissions used to be prohibitive. now a lot of firms aren't even orrging for certain etf's two dollar commissions if you want to buy stock with them. this is been helped. some will pay for millions of trades at a time. host: if i frick as he trading does add volume, you have -- if high-frequency trading as volume, it does add liquidity. guest: let us go back. people forget the crash that 1987 was an electronics failure. there were stocks in the system and volume was a fraction of what we see today. what happens when all of these lines get crossed. it get a y2k type moment. we have to think about it. something did go wrong with the flash crash of 2010. ae drought -- dow dropped thousand points. a lot of people got hurt when they sold stocks based on false information. when something like that happens change,ere is massive there is a huge echo chamber. we talk about how much more sophisticated and massive institutions are. paul you ms. so large and millions of trades are done i

>> i wanted to be out in front of the vanguard of -- >> yeah, yeah.le to try it first, and then you figured you'd come right in -- >> it looked good. it looked good, so i went in there. yeah. i mean, we did this thing where gillian anderson tweeted something and i tweeted something back, and there was -- >> jimmy: fans went bonkers. >> yeah, they did. >> jimmy: i went crazy. >> you did? >> jimmy: yeah, because i was like "x-files." [ laughter ] what are they doing? they're talking to each other man? >> i was amazed because -- you know, obviously, it's a a public forum, right? but there were a certain amount of fans who reacted as if we were carrying on this clandestine conversation. like, i knew it! i knew they were together! i knew it! [ laughter ] i was just like, "no, no, these are tweets." >> jimmy: on the internet. we know everyone is reading these. >> i found that interesting. >> jimmy: yeah, but people go nuts for "x-files." you can't even mention a rumor of a movie or something. >> yeah. [ light laughter ] ♪ >> jimmy: nope, forget it. it's not

men come it's hard enough to be an officer of any company to keep these guys alive but to be the vanguard of a new breed of leaders, college-educated to show what you can do. i have a scene where they are on the boat going over and everybody's getting seasick. everyone thinks he is seasick but he's flashing back to a scene from w.e.b. from w.e.b. two blog. he's saying you are the torchbearers of the future. who will carry the epitaph of hero and he over the side because he so terrified. i think that is something because in my research that is what i get coming back to was the officer class and how that was the very new thing. anyone else? yes, sir. >> after the war was over, what happened to him? >> they came home to the worst racial violence with that in this country. it's called the red summer of 1919. this was in the north. i'm going to throw in a personal story that my mother told me which blew my mind. my mom was a very famous actress. her name was anne bancroft. she won the academy award and the next year was her job to present it to the next one or who was sidney poitier. it is tra

miller posted on a site called vanguard news network that has thousands and thousands of disenchantedipate. there's another site called "storm front," which has over a quarter million registered users, people in an echo chamber of hate. this is a magnet for white supremacists and breeding ground for their kind of hatred. we see these things rarely, but regularly, i'm afraid. >> i know your group spoke with his wife, the alleged shooter. what did she say? >> i think she was pretty shocked. she doesn't share his views. she said he had called the night before from a gambling casino saying he'd actually been doing well at the casino. i can't imagine being married to someone like miller. i don't know what to think about her, but she's, i think, cooperating with the authorities. >> the fact that he got these guns through some straw purchaser, what does that say? >> well, i mean, we all know that gun controls, gun measures in our country are extraordinarily loose, but, you know, there are plenty of legal ways to acquire, you know, dangerous weapons in our country. that's a longer debate. wol

weighs one of the most vanguard police commissioners to protect us from terrorism.saw that white smoke, all national intelligence, local intelligence said how did we let this happen? can't let it happen again, we need to monitor. >> okay. very good debate you guys. very interesting. when we come right back, it will be miller time. the d manage at a timed tonight. outrageous situation. a story sympathetic to the boston terror bombers runs on the anniversary of the attack on msnbc. moments away. test test test tet test test i think she tried to kill us. oh, i can barely move a muscle. i don't have any muscles left. [ sighs ] [ chuckles ] you should really clean your ceiling fan. are you kidding me? you're gonna just throw away the last hour? no, it's only 15 calories. [ male announcer ] with reddi wip, fruit never sounded more delicious. at least i can die happy. [ male announcer ] and hard work won't have to go to waste. mmm. with 15 calories per serving and real cream, the sound of reddi wip is the sound of joy. ♪ oh-oh, oh, oh, la, la-la, la-la, la-la ♪ ♪ na-na-na,

that's i-shares, so that's probably the number one asset manager in the united states followed by vanguard. there's janus capital. >>> private equity not quite the same thing, but most of those, with the exception of icon, also moving to the up side. long-term money, that 1% every year from the asset managers, it adds up over time. increase the assets under management. that's the game. >> thank you, bob. we're up 147 points on the dow at the moment. let's get a market flash. >> check on the life sciences, the number one gainer. this after it won a preliminary injunction limiting the sale of rival med tronnics core valve system. a jury found it infringed on edwards patents. as for medtronics, you see that it one product in fringes, back over to you. fears of a market correction, they were all the talk last week. gentlemen, welcome. we could be ripe for a 5% to 10% correction, maybe over the next couple weeks. you're not ready to buy. talk to me a bit about that and why you would buy financial technologies and industrials when the moment is right? >> first we have to wait for the market to a

as long as you know where to look in the case of miller, he was all over the vanguard news site, a hate site, posting over 1,200 times and some are on storm front which is another hate site, and we publish the information to the law enforcement and the public to know where they are, and what they are going to do, and a few of them are dangerous to people as happened in overland park. >> and did the organization see an uptic in his actions, and i don't know how you measure hate, but was there anything to indicate that he would act in the way that the police have accused him of? >> well, in terms of the event now, no. but i talked to him in the fall, and the rage of the jews was intense and it is not surprising to me that is who he targeted. >> and thank you for the information related to the case. >> thanks. >>> well, oscar pistorius took the stand for the sixth day with the prosecution paying relentless attention to detail. the prosecutor gerrie nel started to tell pistorius that his version of events was impossible, and started to expose inconsistencies in the story of pistorius. last

weighs one of the most vanguard police commissioners to protect us from terrorism.oke, all national intelligence, local intelligence said how did we let this happen? can't let it happen again, we need to monitor. >> okay. very good debate you guys. very interesting. when we come right back, it will be miller time. the d manage at a timed tonight. outrageous situation. a story sympathetic to the boston terror bombers runs on the anniversary of the attack on msnbc. moments away. my dad has atrial fibrillation, or afib. he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dietary restrictions. hey thanks for calling my doctor. sure. pradaxa is not for people with artificial heart valves. don't

he's posted more than 10,000 messages on a hate website called vanguard news network. and he's just increasingly angry, like so many people of his ilk. we've seen a tremendous increase in the number of hate groups in our country, they total almost 1,000. since the president has come into office we've seen an explosion in anti-government groups, including violent militias and so unfortunately, one can never know when someone like miller will bust loose. but i think it's likely we'll see more and more of this as the country's demographics continue to change and those who fear that continue to have a backlash. >> richard, maybe i'm missing something here. but if frazier glenn miller was convicted, was he never jailed? >> oh, no, he was jailed for three years. he actually then testified against a variety of other white sup premist leaders, one of the reasons why his sentence wasn't longer. he did go to jail for three years for plotting to kill morris deeds, and having stolen military supplies. >> one has to -- i know your colleague morris deeds, one of the leading investig

gerri: larry fishel, vanguard of the future. thanks for coming on the show. >> you too. gerri: we have more and more coming this hour, including how do you do that? besiding if you should give your home to the kids? what does that entail? we have pitfalls you should consider before signing on the dotted line. >>> next, listen to this, my friend, union pensions are in the red. will they go to congress for a handout? seems like pressure is rising. is this next taxpayer bailout? stay with us. we asked people a question, how much money do you think you'll need when you retire? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪ if we want to be ready for a longer retirement. predibut, manufacturings a prettin the united states do. means advanced t

fund that mirrors the market, either the s&p 500, or something that i don't talk enough about, the vanguardn, which you'll see in many of these 529s. all the stocks traded on the new york stock exchange and the nasdaq. but since it's weighted by market cap, its performance will be similar to the s&p, which contains the 500 largest companies. so what are the rules for a 529 plan? let's say you've just had your first child. hey, congratulations! if you can afford it, you should start a 529 with your kid as the beneficiary, right then and there. or maybe wait a couple of days. after all, you just had a baby. although, anyone who's read "confessions of a street addict," i traded big blocks of alcoa throughout the birthing. no, i wasn't proud of it. here's how a 529 works. the contributions are not tax deductible, so you're paying for this out of your after-tax income. that's not great. but, and here's the good part, once your money is in the 529 plan, you don't pay any taxes on your gains, so they compound tax free, year over year. really, it's a lot like a roth i.r.a., except for college rathe

>> vanguard dividend appreciation. a fabulous, well-diversified etf. low expenses, .14%.ith 400 some dividend paying companies that have consistently over the past 10 consecutive years raised their dividend. that is the key. not only a good dividend but a rising dividend. liz: you guys have both been in the business a long time. >> a long time. >> we're old. liz: your best investment choice ever from your career? >> wow. liz: what is real winner. berkshire hathaway for me. berkshire hathaway because i got in the business in 1990. i was able to get the a share. liz: you bought it at what? >> it was 5,000 bucks then which at time was really, really expensive. liz: stop. >> any american fund growth fund. look back at 20 or 30-year number, you're up six, seven, eight times your money. >> that is a good point, liz, despite volatility day-to-day and high frequency stuff we're talking about, most investors would be better off not being traders. forget about trading and trying to compete with black pools and algos. >> don't be greedy. take 10% or 20% of your gains, hold them in c

s, veryte bond income oriented type companies. ,eal estate investment trust the vanguard etf.they all have returns, rates might be staying over longer because of low inflation and low growth around the world but you can still try to find some income. >> there is adam's insight and action, we also have one with chris who is the managing partner and founding principal at eight you are apple capitalnt -- aqr management. he had some advice for long-term investors. >> two of the biggest things that have worked over the very long term our value investing and oddly enough, something that has not worked recently but long-term, momentum investing. combining those works a ton better than either one separately. combineds his advice, momentum with value. an interesting strategy there. i am julie hyman. ♪ >> this is "taking stock" for tuesday, april 15, 2014. i'm pimm fox. today's theme is delivery. in just a moment i'll going to be speaking with senator richard bloomen that will, a democratic from connecticut. he's upset at the pace of the general motors recall. he's going to react to g.m

summers is the vanguard of everyone in the known world. >> absolutely. >> we will, certainly.ble joining in new york today. we will discuss that next here on "surveillance." >> i am tom keene. and adams scarlet fu johnson. deteriorate negative six. the rest of it pretty much stasis. nymex crude well over $100 a barrel. let's get to the single best chart, here is scarlet fu. into perspective how big a deal or smaller deal bitcoin is. shows the m1 money supply for the u.s. dollar. monster level is $2.7 trillion heard you have this trillion dollar a 250 $5 billion, then you have quad amalia, anyone know what the currencies: guatemala? the caps off -- the quetzal. about $8 million in market caps. let's unveil where bitcoin sits. $7 billion in market caps. actually 6.7 5 billion. >> when does this train wreck go away? 465 when i called. >> well, in fairness to matt, i think in november he bought some at around 60 bucks, but that is the whole question, is a currency or a commodity? a safe haven? >> what is bitcoin? mentioned, the bitcoin faithful are gathered here in new york. it is

at the vanguard is peter orszag, the vice chairman citigroup.iblehed a bypass to a better budget future. we are thrilled to have you here today. nobody clicks taxes like you do. you have the most efficient tax system. >> i would not say the most. we have a very efficient system. >> it works. why aren't you guys taking a victory lap? we baffled by the migration have seen in the budget deficit and people are saying, here is what we did. let's keep doing these best practices. >> we should be. the fiscal situation is improving rapidly. not only because the economy is recovering, but because of costses -- health care has slowed down so much that the medicare numbers are just dramatically better than what had been anticipated 3-4 years ago. allo you share the worry of hell breaking loose 3-4 years out? >> a lot will depend on what we do. a have been experiencing remarkable deceleration. the first six months of this fiscal year, medicare costs were only up .6%. i think it's because providers are anticipating a shift away from service payments. you have

you know who we are speaking bogle, founder of vanguard 500.he day is none other than the one and only ms.der of a qr, cliff as dish -- cliff azimuth. thegoing to send you out to newsroom were alex deal has more. >> stocks are rising in the s&p is up i 1% following its worst week since 2012. the nasdaq, the worst performer last week is the best performer today. the vix is falling, is it a sign the selling is actually over? options inside for a look at where options may be heading is my guest. he of us a broad look at what the options market is doing. >> we think this risk event is about halfway over. that suggests the pullback is very similar. as far as the options market goes come a week see a mixed response. if you look at the spiders, one of the most active hedging products, it has lifted suggesting people are looking for protection. but if you look at the nasdaq, where a lot of the damage has taken place, the put call ratio is your multiroom year lows. one of the biggest trade today 180someone buying early may nine strike calls. they break