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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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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
Term
Mutual
Excessive
Disappointment
Participants
Corporate
Governance
Short
Addition
Among
Passive
Industry
Costs
Focus
Fund
Greatest
Managers
Disappointments
More quotes by John C. Bogle
Investing is not nearly as difficult as it looks. Successful investing involves doing a few things right and avoiding serious mistakes.
John C. Bogle
Hint: money flows into most funds after good performance, and goes out when bad performance follows.
John C. Bogle
If your fund doesn't last for the long term, how can you invest for the long term?
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
Time is your friend impulse is your enemy.
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
The transfer of Wall Street from private ownership to public ownership has been a big step backward.
John C. Bogle
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
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
If it is hard to imagine that 20% of losses on the stock market, you should never participate
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
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
I think it's gone much too far. Most of them are not worth the powder to blow them to hell.
John C. Bogle
Reversion to the mean is the iron rule of the financial markets.
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
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
The courage to press on regardless - regardless of whether we face calm seas or rough seas, and especially when the market storms howl around us - is the quintessential attribute of the successful investor.
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
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
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
