To: Vanguard Veterans and Principals
From: John C. Bogle
Date: May 5, 2015
Re: Lecture at the Securities and Exchange Commission
At the invitation of the SEC’s Division of Enforcement (Asset Management Unit), I addressed a staff of some 300 government officials last Tuesday, April 28.
I decided against giving a formal presentation, and opted for an extensive “slide show”—54(!) slides in all. The presentation will likely need little explanation for those of you who are involved in our investment management and marketing groups. But for many of you, a quick riffle through the slide show will likely be enough. (Enough!)
This presentation has the makings, I think, of a good lecture (or a series of two lectures), or possibly yet another paper for the Financial Analysts Journal or the Journal of Portfolio Management. Who knows? I might even take a shot at it . . . when I get some free time.
The title of the talk is “Conflicts, Conflicts, Everywhere,” borrowed from a speech with the same title by Juliet Riewe (pronounced “REE-vee”), co-chief of the Asset Management Unit. Always good to be on the side of the regulators.
Best,
Jack