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
An ad hominem attack against an individual, not against an idea, is highly flattering. It indicates that the person does not have anything intelligent to say about your message.
Nassim Nicholas TalebRead
The way you think, the way you behave, the way you eat, can influence your life by 30 to 50 years.
Deepak ChopraRead
There is a great line of women stretching out behind you into the past, and you have to seek them out and find them in yourself and be conscious of them.
Doris LessingRead
The prejudices of ignorance are more easily removed than the prejudices of interest; the first are blindly adopted; the second wilfully preferred.
George BancroftRead
They were small, brightly coloured, happy little creatures who secreted some of the nastiest toxins in the world, which is why the job of looking after the large vivarium where they happily passed their days was given to first-year students, on the basis that if they got things wrong there wouldn't be too much education wasted.
Terry PratchettRead
Watch out for intellect, because it knows so much it knows nothing and leaves you hanging upside down, mouthing knowledge as your heart falls out of your mouth.
Anne SextonRead