The 70 Best Quotes by John Bogle

John Clifton “Jack” Bogle was known as an American investor, philanthropist, and business magnate, who rose to the top thanks to the founding of The Vanguard Group, the first company to create an index fund. He is also credited with using predictive investing over speculation and practicing patience to obtain favorable long-term results over short-term ephemeral gains.

In this article you will find a selection of the best phrases of John Bogle which help you understand their way of thinking.

The most inspiring John Bogle quotes

To learn more about the work and the valuable lessons from the world of investments left by the magnate, we bring a compilation of the best quotes from John Bogle.

1. Learn every day. But above all, learn from the experience of others. It’s cheaper!

Other people’s experiences help us learn about mistakes to avoid and tricks to put into practice.

2. What value do we place on passion, devotion and trust? How much do joy, the tone of a human voice, and a touch of pride add to our lives?

We give more importance to material things or logical knowledge, while we leave aside what we are passionate about.

3. The miracle of compounding returns is outweighed by the tyranny of compounding costs.

It is useless to have a good economic position if the costs are more demanding.

4. Don’t look for the needle in the haystack. Just buy the haystack!

Sometimes we just need to take risks.

5. There is nothing supporting bitcoin except the hope that you will sell it to someone for more than you paid.

Personal reflections on bitcoin.

6. Remember mean reversion. What is fashionable today is not likely to be fashionable tomorrow.

Fashion is changing, so we cannot hold on to it for long.

7. Patience is the most important gift of the investor. Fill yourself with it.

It is impossible to have short-term profits in investments, profits require patience and perseverance.

8. The main function of the mutual fund is to serve its investors.

The objective that every fund owes.

9. Yes, the investor is usually his own worst enemy. Yes, the marketing behemoth known as the mutual fund industry provides the weaponry that allows investors to satisfy their suicidal instincts.

This is a profession where more than controlling the market, we must learn to control ourselves.

10. The two biggest enemies of an investor are emotions and commissions.

The failures that can lead to defeat.

11. Hiring funds only for their past performance is one of the stupidest things an investor can do.

A mistake that as an investor must be avoided.

12. Your index fund should not be your manager’s cash cow. It should be your own cash cow.

After all it is a business and it needs to make a profit.

13. I see no reason why investors should be content with inferior results than an index fund.

Every investor needs to have ambition to remain.

14. Buy and hold firm.

To have stability you have to know how to stay calm in the face of ups and downs.

15. Have realistic expectations. You are unlikely to get rich quickly.

Another phrase that reminds us that this is not a business to get rich overnight.

16. The most important things in life and business cannot be measured.

No one can put a price on what they love.

17. Please tell me, if you can, how to value friendship, cooperation, dedication and spirit. categorically.

A perfect example of the priceless things in life.

18. Well, bitcoin is a currency. Bitcoin has no underlying rate of return. You know, bonds have an interest coupon.

Explaining how the Bitcoin market works.

19. When investing, you get what you don’t pay for. Costs matter.

That is why you have to know how to predict future profits.

20. When it comes to returns, time is your friend. But when it comes to costs, time is your enemy.

The way time works for us or against us.

21. Ask yourself: Am I an investor or am I a speculator?

A position that must be clear to know how to act.

22. Time is your friend; impulse is your enemy.

An interesting comparison about the different ways of experiencing time.

23. The miracle of compound returns is outweighed by the tyranny of compound costs.

A reflection on the macroeconomic dynamics of his time.

24. Rely on the ordinary virtues that intelligent and balanced human beings have relied on for centuries: common sense, economy, realistic expectations, patience and perseverance.

A series of values ​​whose importance was emphasized by Bogle.

25. I will create value for society, rather than extract it.

Giving benefits to the world to make it a little better.

26. Fund performance comes and goes. The costs continue forever.

The reason why you have to focus on costs.

27. Your hard-earned income should be taxed at the lowest rates, not the highest.

Talking about where the income should come from.

28. I believe, deeply and profoundly, that speculation is a loser’s game.

Despising the speculators who tend to ruin the market.

29. I would always advise young people to follow their star, not my star.

Everyone must take their own path, taking part in the advice of others.

30. If you are very talented and keep winning, you will do well.

But that is only achieved with persistence.

31. The mistake we make as investors is that when the market goes up, we think it will go up forever. When the market goes down, we think it will go down forever. None of those things really happen.

The stock market tends to change constantly and daily, it never stays fixed.

32. What worked in the recent past is likely not to work in the future.

You can never take anything for granted or be completely sure of a trend.

33. The secret to investing is that there is no secret.

It is a path of practice and teaching of all the mistakes we make.

34. When there are multiple solutions to a problem, choose the simplest one.

The simplest things are the ones that usually have the best results.

35. When a door closes, if you look hard enough, if you are strong enough, you will find a window opening.

We are capable of creating our own opportunities, even if we are not able to see it.

36. An investment in knowledge always pays the best interest.

An investment that never devalues, on the contrary, always maintains its value.

37. It’s amazing how difficult it is for a man to understand something if he has paid a small fortune not to understand it.

In this world it is very important to know the company where we allocate our money.

38. Owning the stock market for the long term is a winner’s game, but trying to beat the market is a loser’s game.

You have to know which position to take.

39. Money flows into most funds after good performance and leaves when poor performance follows.

Money does not grow from nothing, it is a result of the management of a company’s funds.

40. In the long term, investing is not about markets at all. Investing is about enjoying the benefits obtained by companies.

It is a continuous profit in the long term.

41. Learning is for the studious and riches for the careful. If a man empties his purse on his head, no one can take it away from him.

It is necessary to see knowledge as one of the greatest gains we can obtain.

42. Investments that have performed well in the first market crash of the century failed miserably in the second step.

A clear example that things don’t necessarily stay the same for long.

43. Does nothing forever. It’s for the moment.

This is how trends work in the stock market.

44. It may take a while. But talent is difficult to identify and talent is difficult to distinguish from luck.

Talent comes from good preparation.

45. They have to live their own life. If you decide you want to get into the investment business, do it, but make it a better business than it is today.

News is always welcome in this world.

46. ​​Aiming for average is your best chance to finish above average.

Large companies will not necessarily give you good liquidity.

47. There is almost no limit to investors’ ability to ignore the lessons of the past.

Not learning from the past is a serious mistake.

48. The mutual fund industry has been built, in a sense, on witchcraft.

Luck is an external factor that is involved all the time in investments.

49. Fund investors are confident that they can easily select superior fund managers. You are wrong.

A bet that is based on risks and predictions.

50. Mean reversion is the iron rule of financial markets.

An element that cannot be missing in finances.

51. Speculation leads you down the wrong path. It allows you to put your emotions first, while inversion removes emotions from the picture.

The reason why speculation is dangerous for the business world.

52. The stock market is a big distraction to the investment business.

A very common mistake is that investors worry more than necessary about the stock market.

53. An investor is a person who owns and holds a business forever and enjoys the returns that American businesses and, to some extent, global businesses have earned since the beginning of time.

The profile that a true investor should have.

54. If you have trouble imagining a 20% loss in the stock market, you shouldn’t be in stocks.

To fully enter this world, you have to know how to accept losses.

55. Smart investors will use low-cost index funds to build a diversified portfolio of stocks and bonds, and stay the course.

A very effective step to take.

56. Stocks have profits and dividends. Gold has nothing and bitcoin has nothing.

The difference between different currencies of the economy.

57. In short, the financial system detracts from society.

Unfortunately, society is carried away by the profits we have or do not have.

58. It’s character, not numbers, that makes the world go around.

It is impossible to move forward without the will to want something better.

59. Minimize expenses.

One of the most frequent pieces of advice from finance experts.

60. Once you have set up your estate distribution, stick to it no matter how fearful or greedy you become.

Perhaps the greatest challenge of all, staying firm with our decisions.

61. The market of expectations is that of speculation. The real market is that of investment.

Two markets so different that they cannot coexist.

62. The greatest enemy of a good plan is the dream of a perfect plan. Don’t abandon the good plan.

It’s not wrong to want to follow your dreams, but you must have a firm plan for it.

63. Investing is not nearly as difficult as it seems. To do it successfully, you just have to do a few things right and avoid big mistakes.

To know how to navigate this world with ease, we must know how to overcome obstacles and learn more and more.

64. The courage to move forward regardless of whether we face calm seas or rough seas, and especially when market storms howl around us, is the quintessential attribute of the successful investor.

The greatest talent an investor should have.

65. Speculation is betting on price. Speculation has no place in the typical investor’s portfolio or kit.

Another criticism against speculation.

66. There is a lot of luck in this business. Past performance is not useful in judging future performance.

Past references may be a reference, but they can never ensure the fate of a company.

67. Your success in investing will depend partly on your character and guts, and partly on your ability to realize, both at the height of excitement and in the depths of despair, that this too shall pass.

Our positive or negative attitude is what determines our success or failure.

68. How can we measure the qualities of human existence that give meaning to our lives and careers? What about grace, kindness and integrity?

Keeping our values ​​high has no price.

69. Time is your friend; impulse is your enemy.

Impulsivity can be a mistake that takes you to a point of no return.

70. What may work for a few may not work for many.

That is why everyone must find their own path.