No such thing as a stock picker's market, says investor John Bogle

The 89-year-old legendary investor shares his investment philosophy

In the long run, it is corporate earnings and corporate dividends that drive stock prices, believes John Bogle, founder of Vanguard Group, an investment manager that manages over $5 trillion in assets worldwide.

Sharing his investment philosophy at the Morningstar investment conference in Mumbai through a recorded video, Bogle said that age is just a rule of thumb and one should consider it only as a starting point for deciding one’s asset allocation.

“I don’t do a simple age-based formula. If I did, I’d be 90 per cent in bonds, and 10 per cent in stocks. And that would be