Agreeing with Warren Buffett

We were a little behind the curve in spotting this article Warren Buffett: Vanguard founder is my Hero from late Feb but thought that we would bring it to you now.

Warren Buffett in his annual letter to his investors this year praised Jack Bogle for his efforts to drive down investment management charges and tore a strip off the active fund management industry, taking particular aim at hedge funds; ‘A number of smart people are involved in running hedge funds. But to a great extent their efforts are self-neutralizing, and their IQ will not overcome the costs they impose on investors,’.

Here at Altor we like to think that we are a little ahead of the curve and had made Jack our Hero of the Month in January. Now we are not saying that Warren Buffett is a reader of our blog (we are also not saying that he isn’t) but it is good to know that we are in good company with our thinking.

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