A Quote by John C. Bogle
Enjoy the magic of compounding returns. Even modest investments made in one's early 20s are likely to grow to staggering amounts over the course of an investment lifetime.
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Net return is simply the gross return of your investment portfolio less the costs you incur. Keep your investment expenses low, for the tyranny of compounding costs can devastate the miracle of compounding returns.
The Department of Energy made an investment that failed, and it got raked over the coals for that failed investment. This is ridiculous. The fact of the matter is, the government should be making a lot of risky investments, the majority of which are likely to fail.
You must have the discipline and temperament to resist your impulses. Human beings have precisely the wrong instincts when it comes to the markets. If you recognise this, you can resist the urge to buy into a rally and sell into a decline. It’s also helpful to remember the power of compounding. You don’t need to stretch for returns to grow your capital over the course of your life.
The miracle of compounding returns has been overwhelmed by the tyranny of compounding costs.
Actors have a different kind of existence because they blow up over night into superstars in their early 20s. Let's say you were a superstar in your early 20s and somebody gave you millions of dollars, I mean come on. Let's be honest here, we don't know anything in our 20s.
The biggest mistake investors make is to believe that what happened in the recent past is likely to persist. They assume that something that was a good investment in the recent past is still a good investment. Typically, high past returns simply imply that an asset has become more expensive and is a poorer, not better, investment.
I have plenty of investments that I wish I'd never made. But the model is to lose money on a lot of investments and then make 1,000X or 10,000X on an investment.
At equal returns, public investments are generally superior to private investments not only because they are more liquid but also because amidst distress, public markets are more likely than private ones to offer attractive opportunities to average down.
Happy is one of the many things I'm likely to be over the course of a day and certainly over the course of a lifetime. But I think if you have the expectation that you're going to be happy throughout your life--more to the point, if you have a need to be comfortable all the time--well, among other things, you have the makings of a classic drug addict or alcoholic.
You can't find returns in investments you haven't made.
Investment decision should be made on the basis of the most probable compounding of after-tax net worth with minimum risk.
Personality traits form at an early age and are fixed by early adulthood. Many important things about you change over the course of your lifetime, but your personality isn't one of them.
I have always believed in the magic of childhood and think that if you get your life right that magic should never end. I feel that if adults cannot enjoy a children’s book properly there is something wrong with either the book or the adult reading it. This of course, is just a smart way of saying I don't want to grow up.
My specific concerns with Trump's plans are that they are likely to investments in infrastructure where the private returns are highest (for example toll roads and bridges) rather than where the public gains are greatest.
The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.
For every dollar spent on early child development you save $7 over the life course because children with better early child development are less likely to end up delinquent, involved in crime, unemployed and so on.
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