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
The Vanguard Experiment was designed to prove that mutual funds could operate independently, and do so in a manner that would directly benefit their shareholders.
Interpretation
What this quote means
The Vanguard Experiment aimed to demonstrate that mutual funds can function autonomously for the benefit of their investors.
John C. Bogle's quote reflects the revolutionary concept behind the Vanguard Experiment, which was centered on establishing that mutual funds can be managed in a way that prioritizes the interests of shareholders over other financial goals. This paradigm shift laid the groundwork for the modern approach to mutual fund management, emphasizing transparency, lower costs, and direct benefit to the individual investor.
Themes
Mutual FundsInvestmentShareholdersFinanceBogle
In practice
Example use cases
In a financial seminar discussing the evolution of mutual funds, the quote can be referenced to illustrate Bogle's impact.
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
Stock market bubbles don't grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.
George SorosRead
Credit is a system whereby a person who can not pay gets another person who can not pay to guarantee that he can pay.
Charles DickensRead
A stock is not just a ticker symbol or an electronic blip; it is an ownership interest in an actual business, with an underlying value that does not depend on its share price.
Benjamin GrahamRead
There is nothing so disastrous as a rational investment policy in an irrational world.
John Maynard KeynesRead
There is always something to worry about. Avoid weekend thinking and ignoring the latest dire predictions of the newscasters. Sell a stock because the company's fundamentals deteriorate, not because the sky is falling.
Peter LynchRead
But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
Alan GreenspanRead