Mr. bogle also thinks that corporate profits will rebound nicely within a couple of years and likes the fact that interest rates are low . Low rates have often - though not always - accompanied bull markets .
Mr bogle distinguishes what he calls the " investment return " from equities , which is the initial dividend yield plus earnings growth , from the market return to shareholders .
It is hard to disagree with mr bogle that the " system of retirement security is imperilled , heading for a serious train wreck . " But will anybody listen to him , when they haven 't in the past ?
The shift began around the late 1960s , said dr. bogle , who explored the trend in her book " hooking up : sex , dating and relationships on campus " ( n.y.u. press , 2008 ) .
Yet all this liberation hasn 't eliminated the old double standard for women ; there is still a stigma for those who have too many partners or are always looking for a hookup , says bogle .
Although the cost of an individual transaction has fallen a lot over the past ten years , the volume of trading has risen in tandem-so much so that mr bogle reckons wall street 's total commission revenues have doubled over the past decade .