John Bogle Quotes
31 quotes from John Bogle — Founder of Vanguard Group and creator of the first index mutual fund..
“Common sense tells us that performance comes and goes, but costs go on forever.”
“The mutual fund industry had lost its way. It had become more focused on gathering assets and generating fees than on serving investors. I knew there had to be a better way.”
“I can't believe that the great mass of investors are going to be satisfied with receiving just average returns. The name of the game is to be the best.”
“If a statue is ever erected to honor the person who has done the most for American investors, the hands down choice should be Jack Bogle. In his case, there is no doubt: he has saved investors more money than any other human being.”
“In investing, you get what you don't pay for. Costs matter. So invest in funds that have low costs.”
“The miracle of compounding returns is overwhelmed by the tyranny of compounding costs.”
“Time is your friend; impulse is your enemy. Take advantage of compound interest and don't be captivated by the siren song of the market.”
“The mutual fund industry has been built, in a sense, on witchcraft. The witch doctor tells the people, 'I'll make you rich,' and they believe it.”
“After nearly 50 years in this business, I do not know of anybody who has done it successfully and consistently. I don't even know anybody who knows anybody who has done it successfully and consistently.”
“The stock market is a giant distraction from the business of investing.”
“Buy right and hold tight.”
“Don't look for the needle in the haystack. Just buy the haystack!”
“Stay the course. When I take a ship from here to England, I don't get off at every port. I stay on the ship.”
“The stock market is a voting machine in the short run, but a weighing machine in the long run.”
“Time is your friend; impulse is your enemy.”
“The idea that a bell rings to signal when investors should get into or out of the market is simply not credible. After nearly fifty years in this business, I do not know of anybody who has done it successfully and consistently. I don't even know anybody who knows anybody who has done it successfully and consistently.”
“Investing is not nearly as difficult as it looks. Successful investing involves doing a few things right and avoiding serious mistakes.”
“The winning formula for success in investing is owning the entire stock market through an index fund, and then doing nothing. Just stay the course.”
“If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks.”
“The mutual fund industry has been built, in a sense, on witchcraft.”
“Most investors, both institutional and individual, will find that the best way to own common stocks is through an index fund that charges minimal fees.”
“The fund industry has moved from being a profession of stewardship to a business of salesmanship.”
“We must never forget: In the long run, investing is not about markets at all. Investing is about enjoying the returns earned by businesses.”
“Enough. The word has a nice ring to it. Enough of what we have. Enough of what we've achieved. Enough of what we've accumulated.”
“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.”
“The business of investing is the business of stewardship. And stewardship is the business of serving others.”
“I think we all have to ask ourselves: How much is enough? At what point do we say, 'I have enough wealth, I have enough power, I have enough prestige?' The word 'enough' has a nice ring to it.”
“The index fund is a most unlikely hero for the typical investor. It is no more (and no less) than a broadly diversified portfolio, typically run at rock-bottom costs, without the putative benefit of a brilliant fund manager.”
“Index funds eliminate the risks of individual stocks, market sectors, and manager selection. Only stock market risk remains.”
“The greatest enemies of the equity investor are expenses and emotions.”
“I would always choose the fund with the lower costs. It's the only thing you can control.”
