Paul's Post

From Bogleheads

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Quick Notes from the Bogleheads' Start-Up Kit. Changed the title to eliminate Cliff's notes and reflect what Lady Geek is setting up. I will also modify the content before adding to the Wiki.

Welcome

The Boglehead Philosophy
Develop a workable plan Invest early and often Never bear too much or too little risk Never try to time the market Use index funds when possible. Keep costs low Diversify Minimize taxes. Beware of people trying to sell you something. Stay the course.

Selected quotes that reflect the Boglehead philosophy

Quotes from our Boglehead authors... "Investment risk is the risk that the money you're counting on to purchase something important or sustain your lifestyle at some point in the future won't be there when you need it." --Bill Schultheis, The Coffeehouse Investor - “How to Build Wealth, Ignore Wall Street and Get On With Your Life” "Never treat the highly unlikely as impossible." --Larry Swedroe, “Wise Investing Made Simple” "Successful investing hinges on three steps: the development of a prudent investment plan, the implementation of that plan, and a commitment to follow the plan in good times and bad." --Rick Ferri, “All About Asset Allocation” "Index investing is an investment strategy that Walter Mitty would love. It takes very little investment knowledge, no skill, practically no time or effort--and outperforms about 80 percent of all investors." --Taylor Larimore, Mel Lindauer and Michael LeBoeuf,“ The Bogleheads’ Guide to Investing”

• "The greatest enemy of a good plan is the dream of a perfect plan." --John Bogle

• "The hardest work in investing is not intellectual, it's emotional." --Charles Ellis, "Winning the Losers Game"

• Investing is not a race horse; it’s a plow horse. --pk

• "Rookie mistakes will do you far more damage than having a supercharged portfolio will do you good." --?

• "The time to decide you've taken on too much risk isn't the day after the market is down 20 percent."--William Bernstein

• “I think that there are almost no investors truly able to tolerate 100% stocks." --William Bernstein

• Theory overdone: You can lose any perceived benefit of a complex portfolio by too much focus on the trees and not enough on the forest. --pk

• "It is clear that investment return is far more dependent on investor behavior than on market returns." --?

• So the important question is not "what asset allocation should you have?"; it is "how much discipline do you have?". --Rick Ferri

• Risk and reward are inextricably entwined. Do not expect high returns from safer assets. Investments with historically high returns are capable of inflicting ferocious losses. --William Bernstein

• Ben Graham said to invest with a margin of error, so you don't get killed when you are wrong.

• "To decrease the odds of all of your investments getting clobbered at the same time, you must put your money in different types or classes of investments." -- Eric Tyson, author "Mutual Funds for Dummies."

• "Diversification of risk through the ownership of low-correlated assets is the only free lunch in investing." --Larry Swedroe

• "The most unrealistic expectation people have about investing--especially investing in stocks--is that if they work hard and smart or can find the right advisor, they can improve their investment returns." --Chandan Sengupta "The Only Proven Road to Investment Success."

• "If you are not going to stick to your chosen investment method through thick and thin, there is almost no chance of your succeeding as an investor." --Chandan Sengupta "The Only Proven Road to Investment Success."

• Don’t chase the ghosts of past performance --pk

• “If stock returns came from history books, then the wealthiest people would be librarians.” --Warren Buffett

• Attempts to find a working method of market timing have confounded the best investing minds. --?

• Returns are what you expect, consequences are what you receive --? ^[1]

• The stock market is a distraction to investing. --John Bogle

Links

• Laura’s tips on posting your portfolio and asking related questions: http://www.bogleheads.org/forum/viewtopic.php?t=6212

• Laura’s investment planning overview: http://www.bogleheads.org/forum/viewtopic.php?t=6211

• Recommended Books: Recommendations and Reviews

• Exploring

1. Bogleheads Wiki
2. Bogleheads Forum Reference Library: http://www.bogleheads.org/forum/viewforum.php?f=4

Notes

1. ↑ Quotes without author are unknown, but I thank them for their wisdom.

How to Cite

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Please see [url=http://www.bogleheads.org/wiki/Paul%27s_Post]Paul's Post[/url] on the [url=http://www.bogleheads.org/wiki/Main_Page]Bogleheads Wiki[/url].

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