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
Rely on the ordinary virtues that intelligent, balanced human beings have relied on for centuries: common sense, thrift, realistic expectations, patience, and perseverance.
Interpretation
What this quote means
The quote emphasizes the importance of fundamental virtues like common sense and perseverance in achieving success.
John C. Bogle highlights that throughout history, intelligent and balanced individuals have depended on essential virtues such as common sense, thriftiness, realistic expectations, patience, and perseverance. These timeless qualities are foundational for personal and financial success, reminding us to cultivate and rely on them in our lives.
Themes
VirtuesCommon SenseThriftPatiencePerseverance
In practice
Example use cases
During a workshop on personal finance, one could quote this to illustrate the importance of practical virtues.
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
Similar quotes
Moral wounds have this peculiarity - they may be hidden, but they never close; always painful, always ready to bleed when touched, they remain fresh and open in the heart.
Alexandre DumasRead
Like a bird singing in the rain, let grateful memories survive in time of sorrow.
Robert Louis StevensonRead
It (LSD) opened my eyes. We only use one-tenth of our brain. Just think of what we could accomplish if we could only tap that hidden part! It would mean a whole new world if the politicians would take LSD. There wouldn't be any more war or poverty or famine.
Paul MccartneyRead
The greatest achievements of the human mind are generally received with distrust.
Arthur SchopenhauerRead
God allows us to experience the low points of life in order to teach us lessons that we could learn in no other way.
C. S. LewisRead
The obscure we see eventually. The completely obvious, it seems, takes longer.
Edward R. MurrowRead