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.
John C. BogleRead
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.
Interpretation
The quote highlights the connection between writing and achieving success in investment.
John C. Bogle reflects on how his dual career as an investment executive and financial writer demonstrates the importance of communication in realizing his vision. He suggests that both the written word and the act of publishing have been instrumental in his achievements, emphasizing that effective communication can significantly impact one's success in any field.
In practice
In a keynote speech about the importance of communication in business, this quote can be used to underline the impact of written communication.
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.
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.
Entrepreneurs or international conglomerateurs, or large financial institutions buy or create mutual fund management companies to create a return on their own capital. It's capitalism at work, where the rewards tend to go to the managers rather than the investors.
Net return is simply the gross return of your investment portfolio less the costs you incur. Keep your investment expenses low, for the tyranny of compounding costs can devastate the miracle of compounding returns.
Investing is a virtuous habit best started as early as possible.
Wise investors won't try to outsmart the market.
Discipline is the foundation upon which all success is built. Lack of discipline inevitably leads to failure.
Prosperity is the fruit of labor. It begins with saving money.
I still work hard to know my business. I'm continuously looking for ways to improve all my companies, and I'm always selling. Always.
Ideally, since 80 percent of your life is spent working, you should start your business around something that is a passion of yours
I wanted to be famous for my music and my talent, and I always wished I could cut it out when I left the stage.
There's this little box that African-American actors have to work in, in the first place, and I was able to rise above that box. I could have done a bunch of movies where I stayed as the Axel Foley or Reggie Hammond persona. But I didn't want to be doing the same thing all the time. Every now and then, you crash and burn, but that's part of it.
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