John C. Bogle Quotes

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.

The one thing I say, I will invest in anything - I don't care what it is - as long as it doesn't cut across my ethical code, because at the end of the day I want to be able to live with myself. I want to feel proud of what I do.

Without getting into brothels, there are ethical capitalists the problem is that there aren't enough of them. It is not "just a few bad apples" that have been evident in our corporations, our investment bankers and our mutual funds, but so many that one has to concede that the barrel itself needs some work.

My rather puritanical view is that any investment manager, whether operating as broker, investment counselor of a trust department, investment company, etc., should be willing to state unequivocally what he is going to attempt to accomplish and how he proposes to measure the extent to which he gets the job done.

We will only do with your money what we would do with our own.

You are in the field to defend the public interest, the financial truth for investors and the funds that should support the widow and the orphan.

The 'blind trust' is an age-old ruse. You give a blind trust rules. You can say to a blind trust, don't invest in properties which would be in conflict of interest or where the seller might think they're going to take advantage from me.

Our standard prescription for the know-nothing investor with a long-term time horizon is a no-load index fund. I think that works better than relying on your stock broker. The people who are telling you to do something else are all being paid by commissions or fees. The result is that while index fund investing is becoming more and more popular, by and large it's not the individual investors that are doing it. It's the institutions.

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.

Integrity and firmness is all I can promise; these, be the voyage long or short, never shall forsake me though I be deserted by all men. For of the consolations which are to be derived from these (under any circumstances) the world cannot deprive me.

There is no substitute for virtue. Keep your thoughts virtuous. Rise above the filth that's all around you in this world and stand tall in strength and virtue. You can do this and you will be happier for it for as long as you live. God bless you in cherishing, developing and holding on to this great gift, the quality of personal virtue.

The creative process for a musician is very different than for a filmmaker. I have an idea and I can pretty much execute it. As old as I am now and as long as I've been doing it, I can pretty much get it done in a week. While a filmmaker has a great idea that should be out tomorrow, but he has to go through this process of getting financing, then selling it, then casting. I've always been in awe of filmmakers and their patience in realizing their vision because I could never do that.

As you live high standards publicly and privately, and even under great pressure adhere to them, you raise the vision of others.

...Next time you're faced with a choice, do the right thing. It hurts everyone less in the long run.

Part of leadership (a big part of it actually) is the ability to stick with the dream for a long time.

I mean you last as long as lies.

....This world needs Utopias as it needs fairy stories. It does not matter so much where we are going, as long as we are making consciously for some definite goal. And a Utopia, however strange or fanciful, is the only possible beacon upon the uncharted seas of the distant future.

All persons possessing any portion of power ought to be strongly and awfully impressed with an idea that they act in trust, and that they are to account for their conduct in that trust to the one great Master, Author, and Founder of society.

I think as long as you're straight with people, as long as you honor ground rules, as long as you serve your readers, you're going to get the door opened for you.

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.

Leadership does not always wear the harness of compromise.

Principles must conquer in the long run, for that is the manhood of man.

I personally don't invest in a lot of companies because I think it would be a conflict of interest and Facebook doesn't typically either.

The man who has his ideals, no matter how thoroughly he may be persuaded to desert them, survives well only so long as he is true to those ideals.

Imagination is cheap as long as you don't have to worry about the details.