A Quote by John C. Bogle
We need a mutual fund industry with both vision and values; a vision of fiduciary duty and shareholder service, and values rooted in the proven principles of long-term investing and of trusteeship that demands integrity in serving our clients.
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The culture of the mutual fund industry, when I came into it in 1951, was pretty much a culture of fiduciary duty and investment, with funds run by investment professionals. The firm I worked with, Wellington Management Co., they had one fund. That was very typical in the industry... investment professionals focused on long-term investing.
I believe Washington should be a more active participant focusing on the issue of why corporate shareholders and mutual fund shareholders are not given fair treatment by corporate management and mutual fund management. We need to develop a national standard of fiduciary duty to ensure that these agents, if you will, are adequately representing the principles - pension beneficiaries and mutual fund shareholders - whom they are duty bound to serve.
It's not enough to have values without vision ; you want to be good, but you want to be good for something. On the other hand, vision without values can create a Hitler . An empowering mission statement deals with both character and competence; what you want to be and what you want to do in your life.
We need to reorganize our entire system of retirement plan investing and to develop federal standards of fiduciary duty for pension trustees and fund managers. These require "top down" intervention. But we also need investors to look after their own economic interests, a bottom up approach to our problems that is well within our individual power to undertake.
People who are role models for the principles and values of the organization, who buy in and understand the vision of what the organization is trying to accomplish, and have the personality to inspire other people to the vision. You know, that’s what team chemistry and leadership is all about.
I think that our politics everywhere are gonna be going through this bumpy phase. But as long as we stay true to our Democratic principles, as long as elections have integrity, as long as we respect freedom of speech, freedom of religion, as long as there are checks and balances in our governments so that the people have the ability to not just make judgments about how well government is serving them but also change governments if they're not serving them well, then I have confidence that over the long term, progress will continue.
What difference would a clear vision of my principles, values, and ultimate objectives make in the way I spend my time?
In carrying out every aspect of our work, CIA officers are guided by a professional ethos that is the sum of our abiding principles, core values, and highest aspirations. These include service, integrity, excellence, courage, teamwork, and stewardship. Sacrifice, too, is an inescapable part of our mission.
We deem valuable whatever is likely to meet our needs or wishes (individual values) and whatever is likely to help protect or attain social goals (social values). However, this is not a dichotomy, for some individual values, such as truth, are needed to secure some social values, such as mutual trust, and some social values, such as peace, are required to pursue some individual values, such as good health.
Teaching people skills without giving them a vision for a better future - a vision based on common values - is only training.
Principles aren't something you hear much from politicians these days. Have you noticed? Right across the board, leaders, whatever the political coloring, avoid talking about laws; they avoid talking about principles. They talk about 'our values.' But values can change, and all our packets of 'values' seem to be getting smaller.
I think vision is highly overrated today. I think what really blesses a ministry is, if you want the power of God in your life, its humility and integrity. I'll take a person who's humble and has integrity over a person who has vision any day. A lot of people have vision just based on ego, but it's in that dependence upon God that we get His vision and develop more trust in Him.
My vision for Scotland is one in which we fight together for the values we are care about: equality, fairness and social justice. Those values are the same whether you live in Dumfries or Carlisle.
Perhaps losing integrity with yourself is the greatest stress of all, far more hurtful to us than competition, time pressure, or lack of respect. Our vitality is rooted in our integrity. When we do not live in one piece, our life force becomes divided. Becoming separated from our authentic values may weaken us.
Immigrants bring to America the values of faith in God, love of family, hard work and self reliance - the values that made us a great nation to begin with. We've all seen those values in action, through the service and sacrifice of more than 35,000 foreign-born men and women currently on active duty in the United States military.
For values or guiding principles to be truly effective they have to be verbs. It's not "integrity," it's "always do the right thing." It's not "innovation," it's "look at the problem from a different angle." Articulating our values as verbs gives us a clear idea - we have a clear idea of how to act in any situation.
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