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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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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
Careful
Painting
Ought
Pretty
Generalization
Even
Brush
Much
Confess
Think
Broad
Thinking
Issue

More quotes by 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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On balance, the financial system subracts value from society
John C. Bogle
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But whatever the consensus on the EMH, I know of no serious academic, professional money manager, trained security analyst, or intelligent individual investor who would disagree with the thrust of EMH: The stock market itself is a demanding taskmaster. It sets a high hurdle that few investors can leap.
John C. Bogle
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Time is your friend impulse is your enemy.
John C. Bogle
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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
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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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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
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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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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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Investing is not nearly as difficult as it looks. Successful investing involves doing a few things right and avoiding serious mistakes.
John C. Bogle
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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
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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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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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If your fund doesn't last for the long term, how can you invest for the long term?
John C. Bogle
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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
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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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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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If the data do not prove that indexing wins, well, the data are wrong.
John C. Bogle
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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
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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.
John C. Bogle