Top 25 John C. Bogle Quotes On Investing And Index Funds. John C. Bogle Quotes.

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John Clifton “Jack” Bogle was born on May 8, 1929. He was an American businessman, an investor and founder and chief executive of The Vanguard Group.
He created the first index fund. He favored investment over speculation and long-term patience over short-term action.
John Bogle died on January 16, 2019.


Top 25 John C. Bogle Quotes On Investing And Index Funds:

  1. I built a career out of knowing what I don’t know.

2. Being an entrepreneur is not for the faint of heart. It is a high-risk, high-reward proposition.

3. Investing is a virtuous habit best started as early as possible.

4. In investing, you get what you don’t pay for. Costs matter. So intelligent investors will use low-cost index funds to build a diversified portfolio of stocks and bonds, and they will stay the course. And they won’t be foolish enough to think that they can consistently outsmart the market.

5. The grim irony of investing, then, is that we investors as a group not only don’t get what we pay for, we get precisely what we don’t pay for. So if we pay for nothing, we get everything.

6. The two greatest enemies of the equity fund investor are expenses and emotions.

7. Don’t look for the needle in the haystack. Just buy the haystack!

8. When a door closes, if you look long enough and hard enough, if you’re strong enough, you’ll find a window that opens.

9. Time is your friend; impulse is your enemy.

10. Well, bitcoin is a currency. Bitcoin has no underlying rate of return. You know, bonds have an interest coupon. Stocks have earnings and dividends. Gold has nothing, and bitcoin has nothing. There is nothing to support the bitcoin except the hope that you will sell it to somebody for more than you paid for it.

11. The market is often stupid, but you can’t focus on that. Focus on the underlying value of dividends and earnings.

12. The greatest enemy of a good plan is the dream of a perfect plan.” Stick to the good plan.

13. When there are multiple solutions to a problem, choose the simplest one.

14. The most important of these rules is the first one: the eternal law of reversion to the mean (RTM) in the financial markets.

15. Buying funds based purely on their past performance is one of the stupidest things an investor can do.

16. Net return is simply the gross return of your investment portfolio less the costs you incur. Keep your investment expenses low, for the tyranny of compounding costs can devastate the miracle of compounding returns.

17. Investing is not nearly as difficult as it looks. Successful investing involves doing a few things right and avoiding serious mistakes.

18. Gunning for average is your best shot at finishing above average.

19. I think high turnover is definitively the investor’s enemy, so you don’t want to bring a high-turnover philosophy to this business. You want to have a long-term philosophy

20. Over the short run, however, the fundamentals are often overwhelmed by the deafening noise of speculation—the price at which the stock market values each dollar of earnings.

21. Owning the stock market over the long term is a winner’s game, but attempting to beat the market is a loser’s game.

22. In the mutual fund industry, for example, the annual rate of portfolio turnover for the average actively managed equity fund runs to almost 100 percent, ranging from a hardly minimal 25 percent for the lowest turnover quintile to an astonishing 230 percent for the highest quintile. (The turnover of all-stock-market index funds is about 7 percent.)

23. The index fund is a most unlikely hero for the typical investor. It is no more (nor less) than a broadly diversified portfolio, typically run at rock-bottom costs, without the putative benefit of a brilliant, resourceful, and highly skilled portfolio manager. The index fund simply buys and holds the securities in a particular index, in proportion to their weight in the index. The concept is simplicity writ large.

24. The great British economist John Maynard Keynes, written 70 years ago: “It is dangerous . . . to apply to the future inductive arguments based on past experience, unless one can distinguish the broad reasons why past experience was what it was.

25. As I have earlier noted, the most important things in life and in business can’t be measured…It is character, not numbers, that make the world go ‘round. How can we possibly measure the qualities of human existence that give our lives and careers meaning? How about grace, kindness, and integrity? What value do we put on passion, devotion, and trust? How much do cheerfulness, the lilt of a human voice, and a touch of pride add to our lives? Tell me, please, if you can, how to value friendship, cooperation, dedication, and spirit. Categorically, the firm that ignores the intangible qualities that the human beings who are our colleagues bring to their careers will never build a great workforce or a great organization.

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