It seemed to me that the CNBC interviewer didn't understand Bogle which frankly is scary. He was saying if you need the money in 5 years forget stocks. Don't they understand this! Stocks are for the long run - not for increasing the down payment on the house you're going to buy!
@DIY I completely agree. That concept is so fundamental that it is hard to listen to anyone, or take him or her seriously at least, if he or she is in the financial services arena (or a "finance" info provider) and lacks this knowledge.
I started to comment on how little Melissa Lee was comprehending of Bogle's comments and answers to her questions. It is amazing how little she knows about personal investment and personal financial management while being a lead commentator for a company that tries to convince the viewer the information they deliver over the TV wire is essential to your financial health.
Bogle is an index head.