Investor emotions plus fund industry promotions equal trouble.
--
John Bogle
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If you invest $464 in a good mutual fund every month from age thirty to age seventy, you'll end up with more than $5 million.
The single greatest challenge you face as an investor is handling the truth about yourself.
Only 20% of fund managers will beat the Index over time. 80% will fail. 100% of them will charge you high fees to try.
Buying funds based purely on their past performance is one of the stupidest things an investor can do.
Fund investors are confident that they can easily select superior fund managers. They are wrong.
Fund performance comes and goes. Costs go on forever.
If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks.
Investor emotions plus fund industry promotions equal trouble.
Speculation leads you the wrong way. It allows you to put your emotions first, whereas investment gets emotions out of the picture.
The historical data support one conclusion with unusual force: To invest with success, you must be a long-term investor.
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