The stock market is a giant distraction to the business of investing.
--
John Bogle
Related quotes (
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Buy when everyone else is selling and hold until everyone else is buying. That's not just a catchy slogan. It's the very essence of successful investing.
Index investing outperforms active management year after year.
Before costs, beating the market is a zero-sum game. After costs, it is a loser's game.
If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks.
In the long run, investing is not about markets at all. Investing is about enjoying the returns earned by businesses.
Index funds eliminate the risks of individual stocks, market sectors, and manager selection. Only stock market risk remains.
Investing is not nearly as difficult as it looks. Successful investing involves doing a few things right and avoiding serious mistakes.
Owning the stock market over the long term is a winner's game, but attempting to beat the market is a loser's game.
The grim irony of investing, then, is that we investors as a group not only don't get what we pay for, we get precisely what we don't pay for. So if we pay for nothing, we get everything.
The idea that a bell rings to signal when investors should get into or out of the market is simply not credible.
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