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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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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
First
Leads
Way
Investment
Emotions
Picture
Gets
Emotion
Speculation
Wrong
Whereas
Firsts
Allows

More quotes by John C. Bogle

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I will create value for society, rather than extract it.
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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.
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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.
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Time is your friend impulse is your enemy.
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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.
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On balance, the financial system subracts value from society
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If the data do not prove that indexing wins, well, the data are wrong.
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In the long run, investing is not about markets at all. Investing is about enjoying the returns earned by businesses.
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Don't look for the needle in the haystack. Just buy the haystack!
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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!
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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.
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Capitalism is not a Ponzi scheme. Capitalism is a scheme of free markets.
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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.
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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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The transfer of Wall Street from private ownership to public ownership has been a big step backward.
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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Reversion to the mean is the iron rule of the financial markets.
John C. Bogle
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Hint: money flows into most funds after good performance, and goes out when bad performance follows.
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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
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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