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
It occurs to me that, after the huge output of writing I've produced over the years, there is a close link between my twin careers as investment executive and financial writer: The power of the word and the power of the book have played a major role in turning my vision... into reality.
Interpretation
The quote highlights the connection between writing and achieving success in investment.
John C. Bogle reflects on how his dual career as an investment executive and financial writer demonstrates the importance of communication in realizing his vision. He suggests that both the written word and the act of publishing have been instrumental in his achievements, emphasizing that effective communication can significantly impact one's success in any field.
In practice
In a keynote speech about the importance of communication in business, this quote can be used to underline the impact of written communication.
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.
When 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.
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.
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.
Investing is a virtuous habit best started as early as possible.
Wise investors won't try to outsmart the market.
When I came to New York, I told everyone I was a writer/director, and they said, 'No.' There was a rule. You could be one or the other. They ordained me writer. But then I won the Obie for directing 'Spunk,' and the rules changed.
It doesn't matter how many times you fail. You only have to be right once and then everyone can tell you that you are an overnight success.
Failure is... the highway to success.
I didn't have a career plan. But what I did was, whenever there was a door open and a new opportunity, I always looked into it and took a chance and walked through the door.
There is no secret to success except hard work and getting something indefinable which we call 'the breaks.' In order for a writer to succeed, I suggest three things - read and write - and wait.
Everything I do and everything Pixar does is based on a simple rule: Quality is the best business plan, period.
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