It's very difficult for any particular segment of the stock market to sustain superior performance. The watch word … - John C. Bogle

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It would not have suprised Emilio Sandoz that his sex life was discussed with such candor and affectionate concern by his friends. The single craziest thing about being a priest, he'd found, was that celibacy was simultaneously the most private and most public aspect of his life.

John C. Bogle

It's very difficult for any particular segment of the stock market to sustain superior performance. The watch word for our financial markets is, "reversion to the mean" i. e. what goes up must come down, and it's true more often than you can imagine.

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It's 1450 out of 1500 ETF funds that I just wouldn't touch because they're not diversified enough. Or they have some huge speculative twist to them that if you can guess the markets right you will do very well for a day or two but who can do that? Nobody.

1450, Day, Guess, Investing, Twists, Two

On balance, the financial system subracts value from society

Balance, Financial, Financial System, Subracts, System, Value

Managed funds are astonishingly tax-inefficient.

Astonishingly, Fund, Funds, Investing, Managed, Taxes

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.

Believe, Fix, People, Problem, Substantial

While the apostles of the new so-called "behavioral" theory present ample evidence of how often human beings make irrational financial decisions, it remains to be seen whether these decisions lead to predictable errors that create systematic mispricings upon which rational investors can readily and economically capitalize.

Create, Decision, Errors, Investing, Investors, Present