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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

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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
Whole
Financial
Institutional
Really
Institutions
Observe
Elements
Principal
Whose
Assumption
Looking
Element
Interest
Bound
Principals
Firsts
Bounds
Pals
First
Interests
Misplaced

More quotes by 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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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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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
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The mutual fund industry has been built, in a sense, on witchcraft.
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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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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Yes, the investor is often his own worst enemy. Yes, the marketing colossus known as the mutual fund industry provides the weaponry which enables investors to indulge their suicidal instincts. No, the fund industry was hardly an innocent bystander in the market boom and the subsequent carnage. We have met the enemy and he is us... all of us.
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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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
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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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The principal role of the mutual fund is to serve its investors.
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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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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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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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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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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I will create value for society, rather than extract it.
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