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
People have more freedom to bring more of their personal qualities into the role they play once they have established themselves and their competence is no longer in question. But this is always within limits.
Robert GreeneRead
If you want to get each individual's honest opinion, you don't want that opinion to be influenced by others who are present, much less allow a group to coordinate what they are going to say.
Thomas SowellRead
Beautiful leaving (hajr), is to leave without harming, beautiful pardoning is to pardon without rebuking, and beautiful patience is to be patient without complaining.
Ibn TaymiyyahRead
Follow your passion, weβre often told. But how do you find your passion? Let me put it another way: what is it that breaks your heart about the world? Itβs there that you begin to find what moves you. If you want to find your passion, surrender to your heartbreak. Your heartbreak points towards a truer north β and itβs the difficult journey towards it that is, in the truest sense, no mere passing idyllic infatuation, but enduring, tempestuous passion.
Umair HaqueRead
It has become quite a common proverb that in wine there is truth (In Vino Veritas).
Pliny The ElderRead
No man can perform so little as not to have reason to congratulate himself on his merits, when he beholds the multitude that live in total idleness, and have never yet endeavoured to be useful.
Samuel JohnsonRead