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It's amazing how difficult it is for a man to understand something if he's paid a small fortune not to understand it.
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
Fortune
Amazing
Paid
Small
Understand
Difficult
Something
Men
Investing
More quotes by John C. Bogle
If your fund doesn't last for the long term, how can you invest for the long term?
John C. Bogle
The mistakes we make as investors is when the market's going up, we think it's going to go up forever. When the market goes down, we think it's going to go down forever. Neither of those things actually happen. Doesn't do anything forever. It's by the moment.
John C. Bogle
The mutual fund industry has been built, in a sense, on witchcraft.
John C. Bogle
In Las Vegas we all know that it's the croupiers who win. At the race track, it's those who control the handle who win. State lotteries, does anybody think the participants in the lottery win? No. The state wins.
John C. Bogle
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
I would always advise young people to follow their star - not my star. They have to live their own life. If they decide they want to go into the investment business, do it, but make it a better business than it is today.
John C. Bogle
I believe that the mutual fund industry's biggest shortcoming is too much focus on the momentary price of a stock - an illusion - and too little focus on the intrinsic value of the corporation - the ultimate reality. I'm comforted by the fact that Warren Buffett feels the same way.
John C. Bogle
Index funds eliminate the risks of individual stocks, market sectors, and manager selection. Only stock market risk remains.
John C. Bogle
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
Fund investors are confident that they can easily select superior fund managers. They are wrong.
John C. Bogle
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
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
If it is hard to imagine that 20% of losses on the stock market, you should never participate
John C. Bogle
Reversion to the mean is the iron rule of the financial markets.
John C. Bogle
On balance, the financial system subracts value from society
John C. Bogle
I think it's gone much too far. Most of them are not worth the powder to blow them to hell.
John C. Bogle
If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks.
John C. Bogle
If the data do not prove that indexing wins, well, the data are wrong.
John C. Bogle
Don't look for the needle in the haystack. Just buy the haystack!
John C. Bogle
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
