If the data do not prove that indexing wins, well, the data are wrong. John C. Bogle More Quotes by John C. Bogle More Quotes From John C. Bogle I will create value for society, rather than extract it. John C. Bogle values The business has some problems, substantial problems. You go fix it, you young people. That's what you're there for. Don't believe what the old generation tells you. We don't know a damn thing, including Bogle. John C. Bogle problembelievepeople I'm not an expert on Islam, but I think there are lots of noble religions whose basic principles could stand considerably more observation in the world of business. John C. Bogle islamworldthinking So the misplaced assumption is that we have this whole new institutional element where these [financial] institutions are looking after their own financial interests before the financial interests of the principals, princi-pals whose interests they are really bound to observe first. John C. Bogle palselementsfirsts Thomas Aquinas defined the human soul as the core of our being, and the power that brings our characteristics into unity so the soul of capitalism - in its own temporal world as contrasted to the spiritual world of human beings - is what defines the core of the system and the factors that unify to produce the wonderful world that we are blessed to live in. John C. Bogle soulblessedspiritual Capitalism is not a Ponzi scheme. Capitalism is a scheme of free markets. John C. Bogle free-marketcapitalism Among my greatest disappointments about the mutual fund industry - in addition to excessive costs and excessive focus on the short-term - is that fund managers have been passive participants in corporate governance. John C. Bogle mutual-fundfocusdisappointment The returns we read about in the industry sales literature vastly diminish when we move from the theoretical world of market indexes to the real world of actually investing. John C. Bogle realliteraturemoving I believe - deeply and profoundly - that speculation is a loser's game. John C. Bogle i-believespeculationbelieve I think we all ought to be careful about too much generalization on this issue, even as I confess to painting with a pretty broad brush myself! John C. Bogle be-carefulpaintingthinking Sure there are some companies at the margins of our society that probably do that and I think we all have the responsibility as consumers and as investors to avoid them like the plague. If we do, they won't last very long. Doing what's right is the only possible formula for long-term - I emphasize long term - business success. John C. Bogle responsibilitylongthinking We need a federal government commission to study the way our financial services system is working - I believe it is working badly - and we also need more educated investors. There are good long term low-priced mutual funds - my favorite is a total stock market index fund - and bad short term highly priced mutual funds. If investors would get themselves educated, and invest in the former - taking their money out of the latter - we would see some automatic improvements in the system, and see them fairly quickly. John C. Bogle studylongbelieve I believe Washington should be a more active participant focusing on the issue of why corporate shareholders and mutual fund shareholders are not given fair treatment by corporate management and mutual fund management. We need to develop a national standard of fiduciary duty to ensure that these agents, if you will, are adequately representing the principles - pension beneficiaries and mutual fund shareholders - whom they are duty bound to serve. John C. Bogle mutual-fundmanagementbelieve The fund scandals shined the spotlight on the fact that mutual fund managers were putting their interests ahead of the fund shareholders who trusted them, which had much more substantial consequences in the form of excessive fees and the promotion - as the market moved into the stratosphere - of technology funds and new economy funds which were soon to collapse. John C. Bogle mutual-fundpromotiontechnology I'm not currently into economic textbooks, but my grandchildren tell me that the book by Gregory Mankiw, former head of the white house council of economic advisers is a model of intelligence and clarity. Why not try that one. John C. Bogle grandchildrenhousebook
