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
If the job of capitalism is to create wealth for those who put up the capital, no fund group comes close to Vanguard's success in serving its owners. So we're probably as far away from communism as is realistically possible.
Interpretation
What this quote means
The quote highlights Vanguard's success in prioritizing the interests of its investors within a capitalist framework, contrasting it with communism.
John C. Bogle emphasizes the role of capitalism in wealth creation for investors and suggests that Vanguard epitomizes this principle by effectively serving its owners. He implies that Vanguard's model is highly successful in benefiting those who invest in it, positioning the company far from the ideologies associated with communism, which opposes private wealth and capital investment.
Themes
CapitalismWealthVanguardInvestorsSuccess
In practice
Example use cases
This quote can be used in a business presentation to illustrate effective investment strategies.
More from John C. Bogle
All quotes →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.
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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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