Quotes from John C. Bogle

When you're young, you've got plenty of time to recover from your mistakes.

If the fluctuations in your investment portfolio are reduced, the impact of emotions and behavior on your account is also reduced.

I don't see any magic in hedge funds.

My only regret about money is that I don't have more to give away.

In an ideal world, Adam Smith-like, individuals would recognize what they need to do in their own self-interest, and they will make changes happen and look after themselves.

Time is your friend; impulse is your enemy.

What indexing does is neutralize a large part of the stock market. There's no trading in those stocks, or almost none.

We must work to establish a 'fiduciary society,' where manager/agents entrusted with managing other people's money are required - by federal statute - to place front and center the interests of the owners they are duty-bound to serve.

U.S. companies are innovative and entrepreneurial.

Regardless of what happens in the markets, stick to your investment program. Changing your strategy at the wrong time can be the single most devastating mistake you can make as an investor.

Successful investing is all about common sense.

I do think that impact investing is not that effective. Shares go from investor A to investor B, and the company doesn't even know it. It's inevitably an ineffective way to communicate to the company your feelings.

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.

My father's money vanished in the Great Depression, and he had trouble keeping a job.

Central to the effective functioning of early capitalism was the fundamental principle of trusting and being trusted.

We have moved from treating funds as investment trusts designed to serve their owner-beneficiaries to treating funds as consumer products, designed to attract the largest possible assets. This new approach has ill-served the interests of fund shareholders.

I liked the so-called Volcker Rule. I would have separated investment banking and commercial, deposit banking, as we did under the Glass-Steagal Act. I would have brought back Glass-Steagal.

We do some things for family reasons. If it's not consistent, well, life isn't always consistent.

When 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.

The average hedge fund manager is going to earn zero per cent in extra return.

I think high turnover is definitively the investor's enemy, so you don't want to bring a high-turnover philosophy to this business. You want to have a long-term philosophy.

We make too much out of past performance, and it's very misleading to investors. It causes them to move money around. They buy a fund that's hot and then it turns cold as all hot funds eventually do. And then they get out. Well, buying at the high and selling at the low isn't going to leave you a satisfied shareholder, right?

It occurs to me that, after the huge output of writing I've produced over the years, there is a close link between my twin careers as investment executive and financial writer: The power of the word and the power of the book have played a major role in turning my vision... into reality.

The culture of the mutual fund industry, when I came into it in 1951, was pretty much a culture of fiduciary duty and investment, with funds run by investment professionals. The firm I worked with, Wellington Management Co., they had one fund. That was very typical in the industry... investment professionals focused on long-term investing.