A Quote by John C. Bogle
The stock market is a giant distraction to the business of investing.
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The stock market is a giant distraction from the business of investing.
Speculators are obsessed with predicting: guessing the direction of stock prices. Every morning on cable television, every afternoon on the stock market report, every weekend in Barron's, every week in dozens of market newsletters, and whenever business people get together. In reality, no one knows what the market will do; trying to predict it is a waste of time, and investing based upon that prediction is a purely speculative undertaking.
In my business investing, you are buying a stock, and someone else is selling the stock. Right there, that's like a debate. Is the stock going up, or is it going to go down?
I've been investing in the stock market for 27 years and, within that time, have helped investors beat the market nearly four to one.
The reality is that business and investment spending are the true leading indicators of the economy and the stock market. If you want to know where the stock market is headed, forget about consumer spending and retail sales figures. Look to business spending, price inflation, interest rates, and productivity gains.
An index fund is a fund that simply invests in all of the stocks in a market. So, for example, an index fund might invest in every single stock or almost every single stock in the U.S. market, it might invest in every single stock abroad, or it might invest in all of the bonds that are out there. And you can make a perfectly fine investing portfolio that mixes equal parts of all three of those.
All intelligent investing is value investing - acquiring more that you are paying for. You must value the business in order to value the stock.
More money is lost anticipating the changes in the overall stock market than any other way of investing.
Mutual funds give people the sense that they're investing with the big boys and that they're really not at a disadvantage entering the stock market.
The fact that a lot of people, especially younger folks, are not investing in the stock market is something we really think needs addressing.
I think there are a lot of people out there that are speculating in the stock market. They have all kinds of tech stocks or social media stocks. If you want to gamble in the stock market, I would much rather gamble on a mining stock than a social media stock.
I am not criticizing investing in the stock market; I am an investor.
The underlying strategy of the Fed is to tell people, "Do you want your money to lose value in the bank, or do you want to put it in the stock market?" They're trying to push money into the stock market, into hedge funds, to temporarily bid up prices. Then, all of a sudden, the Fed can raise interest rates, let the stock market prices collapse and the people will lose even more in the stock market than they would have by the negative interest rates in the bank. So it's a pro-Wall Street financial engineering gimmick.
When Trump was a candidate, he talked about the stock market, because, oh, the stock market was going up when Obama was president.
There are three important principles to Graham's approach. [The first is to look at stocks as fractional shares of a business, which] gives you an entirely different view than most people who are in the market. [The second principle is the margin-of-safety concept, which] gives you the competitive advantage. [The third is having a true investor's attitude toward the stock market, which] if you have that attitude, you start out ahead of 99 percent of all the people who are operating in the stock market - it's an enormous advantage.
The stock market can be down, but the stock market is not an indication of where people's spirits and enthusiam are, and where their intellectual energy is.
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