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On balance, the financial system subracts value from society

John C. Bogle

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John C. Bogle
Age: 89 †
Born: 1929
Born: May 8
Died: 2019
Died: January 16
Economist
Financier
Investor
Montclair Township
John Clifton Jack Bogle
Jack Bogle
Financial
Balance
Value
System
Society
Values

More quotes by John C. Bogle

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If your fund doesn't last for the long term, how can you invest for the long term?
John C. Bogle
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Corporate leaders surely have their problems, I believe that most CEOs are doing their best to hew to the ethical line. The problem is that that line has gotten blurred and that our moral standard seems to be if everybody else is doing it, it's okay. That's not good enough for me.
John C. Bogle
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Your success in investing will depend in part on your character and guts, and in part on your ability to realize at the height of ebullience and the depth of despair alike that this too shall pass.
John C. Bogle
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Sure there are some companies at the margins of our society that probably do that and I think we all have the responsibility as consumers and as investors to avoid them like the plague. If we do, they won't last very long. Doing what's right is the only possible formula for long-term - I emphasize long term - business success.
John C. Bogle
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Hint: money flows into most funds after good performance, and goes out when bad performance follows.
John C. Bogle
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Time is your friend impulse is your enemy.
John C. Bogle
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I think we all ought to be careful about too much generalization on this issue, even as I confess to painting with a pretty broad brush myself!
John C. Bogle
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I think it's gone much too far. Most of them are not worth the powder to blow them to hell.
John C. Bogle
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Index funds eliminate the risks of individual stocks, market sectors, and manager selection. Only stock market risk remains.
John C. Bogle
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Rely on the ordinary virtues that intelligent, balanced human beings have relied on for centuries: common sense, thrift, realistic expectations, patience, and perseverance.
John C. Bogle
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If it is hard to imagine that 20% of losses on the stock market, you should never participate
John C. Bogle
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Don't look for the needle in the haystack. Just buy the haystack!
John C. Bogle
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Fund investors are confident that they can easily select superior fund managers. They are wrong.
John C. Bogle
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But whatever the consensus on the EMH, I know of no serious academic, professional money manager, trained security analyst, or intelligent individual investor who would disagree with the thrust of EMH: The stock market itself is a demanding taskmaster. It sets a high hurdle that few investors can leap.
John C. Bogle
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Reversion to the mean is the iron rule of the financial markets.
John C. Bogle
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The miracle of compounding returns has been overwhelmed by the tyranny of compounding costs.
John C. Bogle
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If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks.
John C. Bogle
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Capitalism is not a Ponzi scheme. Capitalism is a scheme of free markets.
John C. Bogle
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The courage to press on regardless - regardless of whether we face calm seas or rough seas, and especially when the market storms howl around us - is the quintessential attribute of the successful investor.
John C. Bogle
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So the misplaced assumption is that we have this whole new institutional element where these [financial] institutions are looking after their own financial interests before the financial interests of the principals, princi-pals whose interests they are really bound to observe first.
John C. Bogle