The miracle of compounding returns is overwhelmed by the tyranny of compounding costs.
--
John Bogle
Related quotes (
Go back
)
Costs are like fingernails, they always have to be cut.
It costs nothing to ask a successful person how they succeeded, but it may deliver more value than 1,000 hours of hard work.
Before costs, beating the market is a zero-sum game. After costs, it is a loser's game.
Fund performance comes and goes. Costs go on forever.
In the long run, investing is not about markets at all. Investing is about enjoying the returns earned by businesses.
Over the short run, the fundamentals are often overwhelmed by the deafening noise of speculation
The index fund is a most unlikely hero for the typical investor. It is no more (nor less) than a broadly diversified portfolio, typically run at rock-bottom costs, without the putative benefit of a brilliant, resourceful, and highly skilled portfolio manager.
The miracle of compounding returns is overwhelmed by the tyranny of compounding costs.
The true investor will do better if he forgets about the stock market and pays attention to his dividend returns and to the operating results of his companies.
Where returns are concerned, time is your friend. But where costs are concerned, time is your enemy.
Homepage
Search
By Author
By Topic
This is a free project brought to you by
Steve Adcock
.
