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
We need a mutual fund industry with both vision and values; a vision of fiduciary duty and shareholder service, and values rooted in the proven principles of long-term investing and of trusteeship that demands integrity in serving our clients.
Interpretation
What this quote means
The quote advocates for an ethical mutual fund industry that prioritizes the interests of investors while adhering to integrity and long-term principles.
John C. Bogle emphasizes the importance of creating a mutual fund industry that not only possesses a clear vision focused on fiduciary duty and serving shareholders but also upholds values that are based on long-term investing principles. This call for integrity and responsible trusteeship highlights the necessity for financial institutions to act in the best interest of their clients, fostering trust and accountability in the investment landscape.
Themes
Mutual FundFiduciary DutyShareholder ServiceLong-Term InvestingIntegrity
In practice
Example use cases
In a speech addressing finance professionals, one might quote Bogle to advocate for ethical investment practices.
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.
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
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