26 May 2015 Low cost is just the first step in picking funds: Bogle

"In the stock market casino, it is the croupiers who win," Bogle is fond of saying. By croupiers, he means everyone who takes a fee, which could be the fund company but could also be "fund salesmen," such as investment advisors, or brokers who place trades. He also calls the U.S. government a croupier of sorts: It collects taxes.