The combined business would be owned 50/50 between shareholders of FCA and Groupe Renault.Autosread more
Pro-EU parties are set to hold onto two-thirds of the seats at the EU Parliament.Europe Politicsread more
The U.S. is showing signs of targeting China's domestic surveillance and the tech supporting it.Technologyread more
Smartphone users in Singapore, the U.K. and China told CNBC's "Beyond The Valley" that foldable smartphones are "very strange," "super bulky," and expensive compared to the...Technologyread more
The projected result comes shortly after Conservative Party leader Theresa May announced her resignation as prime minister on Friday morning.Europe Politicsread more
Investors are largely focused on results of the EU parliamentary elections. Euroskeptic parties in Britain and France made solid gains.Europe Marketsread more
Former Apple CEO John Sculley says this skill is vital to all great business leadership.Successread more
A Beijing decision to rapidly and sharply cut its excessive and unsustainable trade surplus with the U.S. would change for the better the bilateral relationship, writes...World Economyread more
Prime Minister Narendra Modi has to make sure that India becomes a highly competitive manufacturing hub where global investors will look to invest, the chairman of India...Asia Economyread more
U.S. President Donald Trump said Monday he expects to get the trade gap with Japan "straightened out rapidly," adding that announcements on that could come as soon as August.World Economyread more
Bitcoin surged more than 9% from the day before to hit its highest level in more than a year.Technologyread 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.