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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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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
Miracle
Cost
Return
Compounding
Returns
Overwhelmed
Costs
Investing
Tyranny
More quotes by 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
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
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
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
In the long run, investing is not about markets at all. Investing is about enjoying the returns earned by businesses.
John C. Bogle
If your fund doesn't last for the long term, how can you invest for the long term?
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
Income earned by the sweat of your brow should be taxed at the lowest rates, not the highest. Capital gains should be taxed at a higher rate.
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
Don't look for the needle in the haystack. Just buy the haystack!
John C. Bogle
The relationship between executive CEO pay, stock performance is tenuous and not easily unscrambled, just one of myriad factors that affect the price of a stock.
John C. Bogle
If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks.
John C. Bogle
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
I think it's gone much too far. Most of them are not worth the powder to blow them to hell.
John C. Bogle
Index funds eliminate the risks of individual stocks, market sectors, and manager selection. Only stock market risk remains.
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
Capitalism is not a Ponzi scheme. Capitalism is a scheme of free markets.
John C. Bogle
The transfer of Wall Street from private ownership to public ownership has been a big step backward.
John C. Bogle
Hint: money flows into most funds after good performance, and goes out when bad performance follows.
John C. Bogle
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
