It isn't probabilities. It is consequences as well.

Investing isn't just about probabilities. It's about consequences, and you've got to be prepared for them.

- John Bogle

Swings in stock returns

The boom and the bust were normal—just two more swings in stock returns over the past century. Reversion to the mean is the iron rule of the financial markets.

- John Bogle

Learn every day

Learn every day, but especially from the experiences of others. It's cheaper!

- John Bogle

The risk is ...

When reward is at its pinnacle, risk is near at hand.

- John Bogle

Capitalism requires a structure

Capitalism requires a structure and a value system that people believe in and can depend on.

- John Bogle

Forecasting

Accurately forecasting swings in investors’ emotions is not possible. But forecasting the long-term economics of investing carries remarkably huge odds of success.

- John Bogle

What is investing

Investing isn't just about probabilities. It's about consequences, and you've got to be prepared for them.

- John Bogle

Successful Investor

The courage to press on, regardless of whether we face the calm seas or rough seas, and especially when the market storms howl around us, is the quintessential attribute of the successful investor.

- John C. Bogle

Long term and standard deviation

A percentage point added to your long-term return is priceless. A percentage point added to your standard deviation is meaningless. To equate the meaningless to the priceless one for one strikes me as being absurd.

- John Bogle