What Keeps Mohamed and Me Up at Night

Iâ??ve always liked Jack Bogle, although Iâ??ve never met him. Heâ??s got heart, but as heâ??s probably joked a thousand times by now, itâ??s someone elseâ??s; a 1996 transplant being the LOL explanation. Heâ??s also got a lot of investment common sense, recognizing decades ago that investment managers in composite couldnâ??t outperform the market; in fact, their alpha would be negative after fees and transaction costs were factored in.