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Bogleheads mission

Posted: Tue Feb 14, 2012 10:36 am
by a2z
I am attempting to write a Bogleheads mission statement and so I'm looking to fellow Bogleheads for feedback. I find that when our local group gathers there are lots of questions raised, mainly by newcomers, surrounding our purpose and mission. I appreciate your suggestions regarding the following draft.

The Bogleheads mission…support individuals to make intelligent, prudent and independent decisions as they plan, execute and manage their personal finances, investments and consumer issues.

Thanks for your help!
Phil

Re: Bogleheads mission

Posted: Tue Feb 14, 2012 10:38 am
by The Wizard
I think Mel and the other mod/admins must've put something together for the IRS filing for tax-exempt status.
So maybe better to get the official mission statement from them?

Re: Bogleheads mission

Posted: Tue Feb 14, 2012 11:02 am
by NAVigator
How about, "Bogleheads share the investing advice inspired by Jack Bogle". While that statement might be a bit evasive, upon investigation, it says a lot.

Jerry

Re: Bogleheads mission

Posted: Tue Feb 14, 2012 11:09 am
by VictoriaF
Organizations distinguish between vision, mission, goals, and objectives.

The Bogleheads' mission is to promote a low-cost broadly-based index-fund approach to investing as described and implemented by John Bogle.

Bogleheads' goals include the following:
- discussing a wide range of personal-finance issues
- educating Bogleheads Forum members
- educating the population at large using the Forum and the Wiki
- responding to the changes in the financial landscape
- helping members with their specific financial issues

Victoria

Re: Bogleheads mission

Posted: Tue Feb 14, 2012 11:18 am
by Peculiar_Investor
The Bogleheads' Wiki also may hold some of the answer, The Bogleheads® and Bogleheads® investment philosophy might prove helpful, and maybe even Boglehead® Local Chapters.

Re: Bogleheads mission

Posted: Tue Feb 14, 2012 12:55 pm
by Taylor Larimore
Hi Phil:

The IRS is currently reviewing our application for tax-free status. This is the reason our Consumer and Recreation forum is locked.

Any "mission statement" must be coordinated with forum administrators to be certain we conform to IRS guidelines.

Best wishes.
Taylor

Re: Bogleheads mission

Posted: Tue Feb 14, 2012 2:19 pm
by JupiterJones
I will only butt in to recommend that anyone considering drafting a mission statement should read this blog post from Guy Kawasaki:

http://blog.guykawasaki.com/2006/01/man ... z1mNxcoi1H

JJ

Bogleheads' mission Kawasaki's way

Posted: Tue Feb 14, 2012 2:44 pm
by VictoriaF
JupiterJones wrote:I will only butt in to recommend that anyone considering drafting a mission statement should read this blog post from Guy Kawasaki:

http://blog.guykawasaki.com/2006/01/man ... z1mNxcoi1H

JJ
That's fair. How about this?
Bogleheads mission: Investing in low-cost index funds.

Of course, any official statements have to be coordinated with Taylor, Mel and others who are working with the IRS.

Victoria

Re: Bogleheads' mission Kawasaki's way

Posted: Tue Feb 14, 2012 4:52 pm
by JupiterJones
VictoriaF wrote: That's fair. How about this?
Bogleheads mission: Investing in low-cost index funds.
Were it up to me, I'd whittle the "mantra" down to: Educate Investors

(But yeah, the requirements of a mission statement for IRS purposes and the requirements of a mission statement for actually focusing the efforts of people in an organization may be two different things entirely.)

JJ

Re: Bogleheads mission

Posted: Tue Feb 14, 2012 9:24 pm
by mephistophles
Part of the statement should be, "always tell the truth."

Re: Bogleheads mission

Posted: Tue Feb 14, 2012 10:33 pm
by LadyGeek
You can find a good description on our Facebook page: Bogleheads.org - More Info | Facebook. This should be more than sufficient for your local group, the content has been reviewed and approved for posting on Facebook:

Bogleheads® Motto

The Bogleheads® motto is Investing Advice Inspired by Jack Bogle. We are part of his crusade "to give ordinary investors a fair shake."

Investing Principles

Bogleheads® follow a small number of simple investment principles that have been shown over time to produce risk-adjusted returns far greater than those achieved by the average investor. Their ideas come from the investing philosophy of Vanguard founder Jack Bogle. They have been further distilled and explained in thousands of posts on the Bogleheads® forum, particularly by original contributors Taylor Larimore and Mel Lindauer.

Bogleheads® emphasize regular saving, broad diversification, and sticking to one's investment plan regardless of market conditions. The Bogleheads® principles are:

1. Live Below Your Means
2. Asset Allocation (Holding Bonds) Is Essential
3. Buy Low Cost Funds that are Widely Diversified
4. Tax Efficiency Matters
5. Stay the Course

Re: Bogleheads mission

Posted: Fri Feb 17, 2012 9:25 pm
by a2z
Thanks to all who have offered suggestions and references. Regarding Taylor’s notice of pending IRS clearance, I had no idea I was wading into a taxable ocean.

I believe the Bogleheads Forum was originally grounded in investing. More specifically, “invest in low-cost mutual index funds.” That grounding or purpose has not expired as evidence that nearly 75% of Bogleheads Forum topics focus on investing in the sub-topics INVESTING-Help with Personal Investments and INVESTING-Theory, News and General. Of the remaining 25%, the bulk of sub-topic discussion is PERSONAL FINANCE (Not Investing) which is about 14%. I cite the percentages to show that the forum includes other, what I consider important and significant, uses by Bogleheads. In order that the mission/purpose be more inclusive than “invest in low-cost mutual index funds” I offered up my mission statement for critiquing.

After reading the suggestions I feel a need to reframe my need. When I talk about money with friends, family and cohorts I usually refer them to Bogleheads.org with ease and expedience. And they often have a puzzled behind-the-lens-glare in their eyes. What are you trying to sell me or what cult do you want me to join? It’s then that I could really use a definitive, accurate and honest descriptive Bogleheads 30 second “elevator speech.”

And so, if there is anything unclear, untrue, unnecessary or illegal in my following revised elevator speech offering, please extend your offerings. Any and all comments are welcome.

Bogleheads Elevator Speech…Bogleheads support individuals to make intelligent, prudent and independent decisions about their money-investments, personal finances and consumer issues.

Phil

Re: Bogleheads mission

Posted: Sat Feb 18, 2012 7:01 pm
by Peter Foley
Phil - I like your first statement. Not to be augumentative, but to inject John Bogle into the mission statement as others have suggested is limiting in my humble opinion. Mr. Bogle certainly inspired the movment and is to be given much credit. I think others have added to that philosophy, refined it, and at times restated it more succinctly than Mr. Bogle. As an aggregator, Taylor Larimore should be given much credit. In short, this has become a "bigger tent" than that which Mr. Bogle originally proposed (consider international investing as an example of the broadening of his philosophy of diversification).

I like Lady Geek's contribution to this discussion, but it is too wordy to be a mission statement.

You could probably shorten yours a bit and not lose much: The Bogleheads mission…support individuals to make intelligent, prudent and independent decisions as they plan, execute and manage their personal finances.

Re: Bogleheads mission

Posted: Sat Feb 18, 2012 7:40 pm
by norookie
:peace

Re: Bogleheads mission

Posted: Sat Feb 18, 2012 7:40 pm
by JupiterJones
a2z wrote: I feel a need to reframe my need. When I talk about money with friends, family and cohorts I usually refer them to Bogleheads.org with ease and expedience. And they often have a puzzled behind-the-lens-glare in their eyes. What are you trying to sell me or what cult do you want me to join? It’s then that I could really use a definitive, accurate and honest descriptive Bogleheads 30 second “elevator speech.”
Ah, well then I'd make sure to mention the "free" part. :D

Maybe something like: It's a free forum where people mostly help each other out with their investing decisions.

Short, to the point. Doesn't try to cover every little thing, but gives someone an idea about whether or not they should check it out.

JJ

Re: Bogleheads mission

Posted: Mon Feb 20, 2012 11:45 am
by a2z
Here's the latest revised and condensed version of my original Bogleheads mission/elevator speech. Thanks to all who have contributed, and a special note of thanks to Peter Foley for suggesting a close version of my "hopefully" final draft.

Bogleheads...support individuals to make intelligent, prudent and independent decisions as they manage their money.

Yours thoughts and comments are still welcome and appreciated.

Phil

Re: Bogleheads mission

Posted: Mon Feb 20, 2012 11:54 am
by mptfan
a2z wrote:Here's the latest revised and condensed version of my original Bogleheads mission/elevator speech. Thanks to all who have contributed, and a special note of thanks to Peter Foley for suggesting a close version of my "hopefully" final draft.

Bogleheads...support individuals to make intelligent, prudent and independent decisions as they manage their money.
How about this...

"Bogleheads help people make intelligent, independent decisions about managing money."

It says the same thing in 10 words.

Or this...

"Bogleheads help people manage money wisely."

It says the same thing in 6 words.

Re: Bogleheads mission

Posted: Mon Feb 20, 2012 4:47 pm
by Cody
I beg to defer a bit on the concept of a mission statement.

IMO a mission statement should display two things: What we do. And what is our specific philosophy. That way when people read it they have a very good understanding out what we are all about. (our could quickly look it up without getting into financial terms).

Many of the suggestions sound like I would expect any financial group or even institution to say and thus mean less. I would say they all say they help make people intelligent, independent, prudent decisions.

So would something like this tell what 1)we do and 2) what our philosophy is based upon.(thus what makes us different from all the rest).

Minnesota Bogleheads help educate the community based on the investment philosophy of John Bogle. Done.

It tells what we do (educate) and what we believe. One could argue with the statement "the investment philosophy of John Bogle." but not without getting into words like "low cost, asset allocation etc). or not?

Cody
Stillwater

Re: Bogleheads mission

Posted: Mon Feb 20, 2012 5:07 pm
by M B
mptfan wrote:Bogleheads help people make intelligent, independent decisions about managing money.
"Bogleheads help investors make intelligent, independent decisions." is even more to the point.

One aspect is being rational, fact-based. Another is that advice does not change with time -- advice given now could have been given 20 years ago (no stock-picking, no "given current conditions").

Re: Bogleheads mission

Posted: Mon Feb 20, 2012 5:18 pm
by Cody
But what makes us different or unique? It sounds a bit like we know what is "intelligent" for others, what they should. I do like "independent" a lot though.

cody

Re: Bogleheads mission

Posted: Mon Feb 20, 2012 6:31 pm
by lawman3966
This might work:

Efficient do-it-yourself investing, the final frontier: These are the adventures of the good ship Bogleprise. Its fifty-year mission: to explore the lowest possible fees, to seek out ever more diversified portfolios, and to give advice to the common man that has never been given before.

Re: Bogleheads mission

Posted: Tue Feb 21, 2012 8:07 pm
by a2z
Here is my latest, brief Bogleheads elevator speech. It is indeed not intended to be the consumate Bogleheads.org mission statment nor is it intended to speak for Bogleheads around the planet. It is mainly for my use though fellow like-minded Bogleheads may use it at their peril.

Bogleheads…help people manage their money- intelligently, prudently and independently.

And thanks to all who contributed.

Phil