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. BogleRead
As I have said before, the daily machinations of the stock market are like a tale told by an idiot, full of sound and fury, signifying nothing.
Interpretation
What this quote means
The stock market's day-to-day activities can seem chaotic and meaningless.
John C. Bogle's quote reflects his perspective on the volatility and noise associated with daily stock market fluctuations. He suggests that these fluctuations often lack substantive meaning, likening them to a meaningless taleβa source of distraction rather than true value or insight into the underlying worth of investments.
Themes
Stock MarketInvestingVolatilityMeaninglessnessChaos
In practice
Example use cases
You could use this quote when discussing the whims of the stock market at a financial seminar.
More from John C. Bogle
All quotes βWhen our financial system - essentially our money managers, marketers of investment products and stockbrokers - put up zero percent of the capital and assume zero percent of the risk yet receive fully 80% of the return, something has gone terribly wrong in our financial system.
John C. BogleRead
Entrepreneurs or international conglomerateurs, or large financial institutions buy or create mutual fund management companies to create a return on their own capital. It's capitalism at work, where the rewards tend to go to the managers rather than the investors.
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Net return is simply the gross return of your investment portfolio less the costs you incur. Keep your investment expenses low, for the tyranny of compounding costs can devastate the miracle of compounding returns.
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Investing is a virtuous habit best started as early as possible.
John C. BogleRead
Wise investors won't try to outsmart the market.
John C. BogleRead
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