A Quote by John C. Bogle
It's 1450 out of 1500 ETF funds that I just wouldn't touch because they're not diversified enough. Or they have some huge speculative twist to them that if you can guess the markets right you will do very well for a day or two but who can do that? Nobody.
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There were two qualities about the mutual funds of the 1920s that made them extremely speculative. One was that they were heavily leveraged. Two, mutual funds were allowed to invest in other mutual funds.
You see it in the many bouncing clothes that are not just pleats. To make them, two or three people twist them - twist, twist, twist the pleats, sometimes three or four persons twist together and put it all in the machine to cook it.
In investing, you get what you don't pay for. Costs matter. So intelligent investors will use low-cost index funds to build a diversified portfolio of stocks and bonds, and they will stay the course. And they won't be foolish enough to think that they can consistently outsmart the market.
The life of an actor is very random. It can be exhilarating but terrifying - you do wonder day to day where the next job will come from. Some of my friends are very talented people, but you see them out of work - which can be tough. If you wanted that kind of security, though, I guess you wouldn't be an actor in the first place.
Owning a variety of asset classes means that some part of your portfolio will be doing well when the cyclical turmoil arises. A broadly diversified portfolio includes large capitalization stocks, small cap, emerging markets, fixed income, real estate and commodities.
I have mutual funds. I have a lot of individual stocks. I'm across the board, really well diversified.
America is so special, everybody wants to go there. And there's not a thought given to how it got special. It's just assumed it was made that way, I guess. It's just assumed that it's just there. And it's also assumed that it's always going to be there. Call it the golden goose or whatever you want but everybody saying that we have no right to keep anybody out because nobody kept us out, we all had to get here. Nobody here now actually started here. Of course, that's no longer true.
When I was 23, 24, I started covering hedge funds - a lot of this was luck - when no one else did. This was before hedge funds were the prettiest girl in school: this was pre-nose job and treadmill for hedge funds, when nobody talked to them - back then, it was just all about insurance companies and money managers.
Speculative markets have always been vulnerable to illusion. But seeing the folly in markets provides no clear advantage in forecasting outcomes, because changes in the force of the illusion are difficult to predict.
I will see 100 or 200 and I will take my time with them and I audition them for the two main roles. If I like what I see, but they're not exactly right for the role, I'll think well I have this other role that might work for them. Sometimes I will write a role for them because I want to work with them because they're so good.
That whole thing about masturbating. Most girls, I guess nobody has to tell them, they just figure it out. I had to be told. Some girl actually had to show me a hairbrush and demonstrate exactly what to do. I just never figured that stuff out naturally.
Lately I was near the beehives and some of the bees flew onto my face. I wanted to raise my hand, and brush them off. 'No,' said a peasant to me, 'do not be afraid, and do not touch them. They will not sting you at all, if you touch them they will bite you.' I trusted him; not one bit me. Trust me; do not fear these temptations. Do not touch them; they will not hurt you.
It will not be good enough simply to depend on one or two markets, we will need to embrace innovation, decide what we do well, and target those sectors in which, with investment and planning, we could make the whole world our client for keeps.
I had basically been shelved by the record label for two years and I was writing songs every day. I made two albums that just never came out, and that was just a really big knock to my confidence, because everything I sent seemed like it just wasn't good enough.
Maybe you don't like your job, maybe you didn't get enough sleep, well nobody likes their job, nobody got enough sleep. Maybe you just had the worst day of your life, but you know, there's no escape, there's no excuse, so just suck up and be nice.
Remember that Cosby show where he harrassed the children? Well I put on a little suit and because I am so small they invited me on but nobody was laughing at my jokes. I guess I'm just, too, particularly smart for them.
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