John C. Bogle Quotes
If the data do not prove that indexing wins, well, the data are wrong.
Bogle, John C. The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns. John Wiley & Sons, 2007.
Berelson had done a major compendium of research and found that the high quality studies with very good data were usually done in studies or programs that were not very important, while the most important areas were usually informed by poorer data and less rigid studies. As an example he gave the extensive data that the defense department then had on the relative physical fitness prowess of the marines verses the other services, but had little or no data as to whether the marine was a better fighter, had better judgment in crises, was more skilled with weapons system of the time etc. The Education Department had great data on the performance of students on mathematics tests but almost none on how to teach mathematics.
John Clifton "Jack" Bogle was an American investor, business magnate, and philanthropist. He was the founder and chief executive of The Vanguard Group, and is credited with creating the first index fund. An avid investor and money manager himself, he preached investment over speculation, long-term patience over short-term action, and reducing broker fees as much as possible. The ideal investment vehicle for Bogle was a low-cost index fund held over a period of a lifetime with dividends reinvested and purchased with dollar cost averaging.
