The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Jack Bogle, founder of the Vanguard group and creator of the first index fund, told CNBC PRO he is worried that just three firms — Vanguard, BlackRock and State Street — dominate the passive investing game. He believes more firms need to embrace the passive philosophy and reduce the influence of these companies, including his own.
He believes more firms need to embrace the passive philosophy and reduce the influence of these companies, including his own.
"I've also been in this business so long that I know that when everything looks sweet and easy, you better be worried 'cause the big guy hidden in the back of the room — you can't see him — huge, strapping guy carrying a sledgehammer and just when you think everything is going fine he takes that sledgehammer back and hits you in the nape of the neck," Bogle told Mike Santoli in the exclusive interview.
Overall, Bogle remains concerned about Wall Street's constant habit of putting itself before its customers and that active management mutual fund firms which are also publicly traded will continue to suffer from this conflict of interest.
"The industry structure I think is going to have to change in a more mutual direction where the client comes first and not the investment manager and particularly not the financial conglomerates that own 30 of the 50 largest mutual fund companies," Bogle said.
Warren Buffett called Bogle a "hero" to him in his annual letter released this year, writing, "If a statue is ever erected to honor the person who has done the most for American investors, the hands down choice should be Jack Bogle."
On this comment from the "Oracle of Omaha," Bogle said, "When a hero like Warren calls me a hero, there may be an element of truth in it, but one takes these things with a grain of salt."
Bogle, 87, also discusses in this nearly 20 minute sit-down:
To view this interview, you must be a CNBC PRO subscriber.