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.
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.
John C. BogleRead
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.
John C. BogleRead
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
Similar quotes
Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes a bubble on a whirlpool of speculation. When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill done.
John Maynard KeynesRead
It is credit that matters, not money (in other words, monetarism is a false ideology).
George SorosRead
I am in favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible. ... because I believe the big problem is not taxes, the big problem is spending.
Milton FriedmanRead
The most powerful forces in economics are not numbers or facts. They are prejudices and preferences. No amount of evidence will ever change the degree to which many of the rich and powerful prefer themselves to be richer and more powerful and others poorer and weaker.
Nick HanauerRead
In financial terms, my sense is that the distribution of wealth, unequal as it is, is self-perpetuating, and, especially in a linked and accelerating world, the rich get ever more quickly richer while the poor get ever more speedily poorer.
Pico IyerRead
I'm just saying that if you understand how the economic machine works, it just works like a machine. There are cause-effect relationships.
Ray DalioRead