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The mutual fund industry has been built, in a sense, on witchcraft.

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
Witchcraft
Fund
Mutual
Built
Industry
Sense

More quotes by 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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Investing is not nearly as difficult as it looks. Successful investing involves doing a few things right and avoiding serious mistakes.
John C. Bogle
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The principal role of the mutual fund is to serve its investors.
John C. Bogle
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Among my greatest disappointments about the mutual fund industry - in addition to excessive costs and excessive focus on the short-term - is that fund managers have been passive participants in corporate governance.
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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Speculation leads you the wrong way. It allows you to put your emotions first, whereas investment gets emotions out of the picture.
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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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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The business has some problems, substantial problems. You go fix it, you young people. That's what you're there for. Don't believe what the old generation tells you. We don't know a damn thing, including Bogle.
John C. Bogle
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In the long run, investing is not about markets at all. Investing is about enjoying the returns earned by businesses.
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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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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Reversion to the mean is the iron rule of the financial markets.
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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I will create value for society, rather than extract it.
John C. Bogle
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If you're very talented and keep winning, you'll do just fine. It may take a while. But the talent is hard to identify and talent is hard to tell from luck. There's an awful lot of luck in this business. Past performance is not helpful in judging future performance.
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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While I haven't read economist Robin Hahnel's work, replacing capitalism would be at the very bottom of my list of priorities - to be considered only after everything else had been tried. Improving our capitalistic system however, is at the top of my list and is of course the major theme of The Battle for the Soul of Capitalism.
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