[favorite] Boglehead quotes

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grabiner
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[favorite] Boglehead quotes

Post by grabiner » Fri Jun 15, 2012 9:12 pm

I'd like to save some great quotes from the forum on this thread.

This was a beautiful analogy.

http://www.bogleheads.org/forum/viewtop ... 4#p1417874
retiredjg wrote:So the 3 treasury funds are more like celery soup, bean soup, and tomato soup while the Spartan US Bond Index is like minestrone soup (the other three all mixed together with some other stuff in there too). Obviously, the US Bond Index is the most diversified.
Wiki David Grabiner

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Re: Boglehead quotes

Post by NAVigator » Fri Jun 15, 2012 10:43 pm

I have often been inspired by the signature lines that many forum members have established. Mine is not meant to be serious or inspiring. :) I'm just saying that this might be a good place to look for some wisdom to collect.

Jerry
"I was born with nothing and I have most of it left."

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Re: Boglehead quotes

Post by grabiner » Sun Jan 19, 2014 8:24 pm

From Can you talk me out of Preferred Stocks?
nisiprius wrote:As a hybrid product, in between stocks and bonds, just like junk bonds--junk bonds are stockish bonds, preferred stocks are bondish stocks.
Wiki David Grabiner

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Re: Boglehead quotes

Post by grabiner » Thu Feb 13, 2014 11:48 pm

From Bonds Today:
Taylor Larimore wrote:Stocks let us eat well. Bonds let us sleep well.
Wiki David Grabiner

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Re: Boglehead quotes

Post by Sunny Sarkar » Fri Feb 14, 2014 8:33 am

John Norstad wrote:I have indeed found a great asset allocation calculator. It uses MPT and all the other modern models like Fama-French. It uses a huge database of expert analyst's estimates of correlations and expected returns and standard deviations and all the other information available on the entire planet. It actually runs on an analog computer (not digital). It uses the latest state-of-the-art neural network and artificial intelligence algorithms. It always produces extremely reasonable asset allocation percentages for any and all possible assets and asset classes. Anyone can easily use the calculator. It's free.

It's called the market.
"Cost matters". "Stay the course". "Press on, regardless". ― John C. Bogle

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Re: Boglehead quotes

Post by Sunny Sarkar » Fri Feb 14, 2014 8:36 am

Bill Bernstein wrote:You quickly learn that when you disagree with the Sage of Valley Forge, you usually wind up cleaning egg off your face.
"Cost matters". "Stay the course". "Press on, regardless". ― John C. Bogle

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Re: Boglehead quotes

Post by midareff » Fri Feb 14, 2014 8:45 am

I'm voting for YDNAL's signature line..... Be yourself, everyone else is already taken -- Oscar Wilde

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Re: Boglehead quotes

Post by cinghiale » Fri Feb 14, 2014 9:51 am

While not directly from a Boglehead poster, I have included this quote from Upton Sinclair in a number of threads. Nothing encapsulates the communication problem between financial advisor/stockbroker and client better than this:
"It is difficult to get a man to understand something, when his salary depends on his not understanding it.”
"We don't see things as they are; we see them as we are." Anais Nin | | "Sometimes the first duty of intelligent men is the restatement of the obvious." George Orwell

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Re: Boglehead quotes

Post by G-Money » Fri Feb 14, 2014 10:18 am

When I want to get a good Boglehead quote, I pretty much just search the forum for any post by nisiprius.
Don't assume I know what I'm talking about.

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Re: Boglehead quotes

Post by tennisplyr » Fri Feb 14, 2014 6:44 pm

How about...
"Sometimes life isn't about money"
"You are where you are in life because you get yourself there"
Those who move forward with a happy spirit will find that things always work out.

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Re: Boglehead quotes

Post by gotherelate » Fri Feb 14, 2014 7:01 pm

I nominate this one for a classic boglehead quote:
G-Money wrote:When I want to get a good Boglehead quote, I pretty much just search the forum for any post by nisiprius.
-Grandpa | I'd rather see where I'm going than see where I've been.

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Re: Boglehead quotes

Post by abuss368 » Fri Feb 14, 2014 7:04 pm

Taylor Larimore wrote:Stocks let us eat well. Bonds let us sleep well.
That was one of my favorites.
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

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Re: Boglehead quotes

Post by selftalk » Fri Feb 14, 2014 7:48 pm

He who lives by the crystal ball must get used to eating a lot of broken glass.

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Re: Boglehead quotes

Post by sschullo » Fri Feb 14, 2014 9:15 pm

abuss368 wrote:
Taylor Larimore wrote:Stocks let us eat well. Bonds let us sleep well.
That was one of my favorites.
+2
Public School K-12 Educators: "Ask NOT what your annuity sales person can do for you, ask what you can do to be a Do-It-Yourselfer (DIY)."

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Re: Boglehead quotes

Post by longinvest » Sat Feb 22, 2014 2:35 pm

In http://www.bogleheads.org/forum/viewtop ... 0#p1969264:
Rick Ferri wrote:There is an article in today's WSJ by Joe Light titled Small Investors Jump Back Into the Trading Game

I have a theory: As bull markets lengthen, memories shorten.

Rick Ferri
Bogleheads investment philosophy | Lifelong Portfolio: 25% each of (domestic/international)stocks/(nominal/inflation-indexed)bonds | VCN/VXC/VLB/ZRR

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Re: Boglehead quotes

Post by abuss368 » Sat Feb 22, 2014 2:48 pm

longinvest wrote:In http://www.bogleheads.org/forum/viewtop ... 0#p1969264:
Rick Ferri wrote:There is an article in today's WSJ by Joe Light titled Small Investors Jump Back Into the Trading Game

I have a theory: As bull markets lengthen, memories shorten.

Rick Ferri
I really like this quote! How true.
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

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Re: Boglehead quotes

Post by Don Christy » Sun Feb 23, 2014 10:42 am

cinghiale wrote:"We don't see things as they are; we see them as we are." Anais Nin
Your signature, is a good one...
“Speak only if it improves upon the silence." Mahatma Gandhi

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Re: Boglehead quotes

Post by abuss368 » Thu Feb 27, 2014 10:40 pm

Anyone who spends 2 minutes a year thinking about bonds has spent 90 seconds to many!
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

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Re: Boglehead quotes

Post by cfs » Thu Feb 27, 2014 10:47 pm

Invest slowly and for the long run.
~ Member of the Active Retired Force since 2014 ~

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Re: Boglehead quotes

Post by abuss368 » Thu Feb 27, 2014 10:48 pm

John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!"
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

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Re: Boglehead quotes

Post by black jack » Thu Feb 27, 2014 11:59 pm

I think some [people] get confused in thinking that deferring consumption is useful for its own sake. The only reason to save (defer consumption) is to enable more consumption in the future.
-Dan Kohn, May 7, 2009, "Major purchase that drained you.." thread
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Re: Boglehead quotes

Post by House Blend » Fri Feb 28, 2014 11:15 am

abuss368 wrote:John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!"
But it's way better than putting your money into 8 funds that overlap.

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Re: Boglehead quotes

Post by abuss368 » Fri Feb 28, 2014 11:18 am

House Blend wrote:
abuss368 wrote:John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!"
But it's way better than putting your money into 8 funds that overlap.
Indeed.
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

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Re: Boglehead quotes

Post by TPayne17 » Thu Mar 06, 2014 2:34 am

“Don't look for the needle in the haystack. Just buy the haystack!” - John C. Bogle

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Re: Boglehead quotes

Post by grabiner » Mon May 26, 2014 10:11 pm

From Calculate a loan:
sscritic wrote:My suggestion is to make a simple loan, not a simple interest loan of any kind, simple interest not being that simple.
Wiki David Grabiner

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Re: [favorite] Boglehead quotes

Post by Taylor Larimore » Mon May 26, 2014 10:22 pm

"Using past performance numbers as a method for choosing mutual funds is such a lousy idea that mutual fund companies are required by law to tell you it is a lousy idea." -- Bill Schultheis
Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle

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Re: [favorite] Boglehead quotes

Post by pkcrafter » Mon May 26, 2014 10:53 pm

Successful investing is counter-intuitive
There are two ways to get rich – make more or desire less
"Successful investing is all about common sense." ~ John Bogle.
“The market can stay irrational longer than you can stay solvent.” - John Maynard Keynes
Sir John Templeton - “The most dangerous words in investing are ‘this time it’s different.”
If you can't explain it to a six-year-old, don't invest in it.
If you don't know what you are doing, stop!
Keep calm. Carry on.
“the best kept secret in the investing world: Almost nothing turns out as expected.” -Harry Browne
Don't just do something, stand there - John Bogle
“The most powerful force in the universe is compound interest” – attributed to Albert Einstein
If it seems complicated, you’re doing something wrong.
Watch your pennies and your dollars will take care of themselves.
The surest way is to know the future is when it's past.
Balance in all things
Do not overwhelm yourself with financial news.
When you find yourself in a deep hole, STOP DIGGING.
There ain't no free lunch.
There ain't no magic.
Time is your most powerful ally.
Investing; the juice is worth the squeeze.
When the market goes down, you are on your own baby.
Having a good investment plan today is better than hoping for a perfect plan tomorrow
Buy the haystack at the lowest possible cost cause the needles are in there.
Boring is beautiful and simplicity is sublime! (in investing at least)
You can have only so much faith in the power of a rational argument
“Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it.”--Will Rogers
Nobody knows where the market -- bond or stocks -- will be in the next fourteen months. SO don't overthink it. And don't sweat it.
Never change your long term investment plan based on short term results.
Never use money to measure your wealth
Where are the customer's yachts?
Compound interest - the 8th wonder of the world!
Why is it "a penny for your thoughts", but someone always wants to "put their two cents in"?
Don't Believe Everything You Believe
Diversification can lower portfolio risk (volatility) in most market conditions.
Buying at the bottom and selling at the top are typically done by liars.
Don't make the same mistake once.
Don't ask a barber if you need a haircut.
The stock doesn't know you own it.
Beware of the prophet seeking profits -- Dennis Miller
"The stock market is a distraction to investing." -- John Bogle
"Truth must be repeated again and again, because error is constantly being preached around it." -- Von Goethe
"Investing is not a race horse, it’s a plow horse."
When times are good, investors tend to forget about risk and focus on opportunity. When times are bad, investors tend to forget about opportunity and focus on risk.

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Re: [favorite] Boglehead quotes

Post by 555 » Tue May 27, 2014 1:13 am

Enough

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Re: [favorite] Boglehead quotes

Post by DaleMaley » Tue May 27, 2014 5:36 am

John Bogle.......

Do you really want to invest in a system where you put up 100 percent of the capital, you, the mutual fund shareholder, you take 100 percent of the risk, and you get 30 percent of the return?”

Talking about the American 401K system...........http://www.pbs.org/wgbh/pages/frontline ... etirement/

I thought John's math was bad, but I checked it........and he is correct regarding only getting 30 percent of the return with high expense 401K choices.
Most investors, both institutional and individual, will find that the best way to own common stocks is through an index fund that charges minimal fees. – Warren Buffett

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Re: [favorite] Boglehead quotes

Post by grabiner » Tue Jan 13, 2015 8:19 pm

From a discussion on Edward Jones fees:
Aptenodytes wrote:You can go to a 7-11 for a gallon of milk, or you can go to a big grocery store. Both will charge you the same fee to walk in the door -- $0. However, the gallon of milk will cost more at 7-11 because its costs per square foot are higher, and it passes those costs on to you through the price.

The expense ratios of mutual funds are analogous. That's why you need to pay attention not only to the literal "fees" but also to the expense ratios.
Wiki David Grabiner

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Re: [favorite] Boglehead quotes

Post by bottomfisher » Tue Jan 13, 2015 9:22 pm

"Stuffing money in a mattress is also diversification, but I wouldn't do that either."

Rick Ferri

viewtopic.php?f=10&t=13547&start=50

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Re: [favorite] Boglehead quotes

Post by oldzey » Tue Jan 13, 2015 9:44 pm

1. All of Taylor Larimore's Investment Gems.

2. “If one isn't ready to lose capital, then one isn't ready to invest. They go hand-in-hand: Losses and investing. One cannot avoid losses if they invest.” – Livesoft (I added this one to my IPS). Link

3. “Tend to your portfolio like you would a cactus plant.” – Toons (from the most successful investors leave their money alone post - also added this to my IPS).
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman

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Re: [favorite] Boglehead quotes

Post by lack_ey » Tue Jan 13, 2015 10:14 pm

oldzey wrote:3. “Tend to your portfolio like you would a cactus plant.” – Toons (from the most successful investors leave their money alone post - also added this to my IPS).
So it doesn't need much water? Ah, so you're saying not to get it too soggy by mixing with the rainy-day fund. Deep.

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Re: [favorite] Boglehead quotes

Post by longinvest » Tue Feb 24, 2015 2:00 pm

Old quote, partial credit to Zotty, and part to Epictetus:

"A simpler portfolio keeps smart people from doing stupid things"

Thanks go to fishndoc for remembering it: viewtopic.php?f=10&t=159204&p=2390793#p2390793
Bogleheads investment philosophy | Lifelong Portfolio: 25% each of (domestic/international)stocks/(nominal/inflation-indexed)bonds | VCN/VXC/VLB/ZRR

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Re: [favorite] Boglehead quotes

Post by jay22 » Tue Feb 24, 2015 2:12 pm

Stay the course, regardless!

Powerful stuff right there.

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Re: [favorite] Boglehead quotes

Post by mickeyd » Tue Feb 24, 2015 2:31 pm

"The relentless rules of humble arithmetic."

"The tyranny of compounding costs."


I have both of these written on a Post-It note on my desk so that I will never overlook the obvious.
Part-Owner of Texas | | “The CMH-the Cost Matters Hypothesis -is all that is needed to explain why indexing must and will work… Yes, it is that simple.” John C. Bogle

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Re: [favorite] Boglehead quotes

Post by longinvest » Tue Feb 24, 2015 2:39 pm

I think that this thread is about great (favorite) quotes created by forum members, not about all favorite quotes.
Bogleheads investment philosophy | Lifelong Portfolio: 25% each of (domestic/international)stocks/(nominal/inflation-indexed)bonds | VCN/VXC/VLB/ZRR

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Re: [favorite] Boglehead quotes

Post by NeutrinoPerson » Tue Feb 24, 2015 2:45 pm

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Last edited by NeutrinoPerson on Wed Feb 25, 2015 9:34 pm, edited 2 times in total.

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Re: [favorite] Boglehead quotes

Post by mickeyd » Tue Feb 24, 2015 2:46 pm

longinvest wrote:I think that this thread is about great (favorite) quotes created by forum members, not about all favorite quotes.
Isn't Jack a forum member?
Part-Owner of Texas | | “The CMH-the Cost Matters Hypothesis -is all that is needed to explain why indexing must and will work… Yes, it is that simple.” John C. Bogle

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Re: Boglehead quotes

Post by investor1 » Tue Feb 24, 2015 3:22 pm

sschullo wrote:
abuss368 wrote:
Taylor Larimore wrote:Stocks let us eat well. Bonds let us sleep well.
That was one of my favorites.
+2
Well said.

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Re: [favorite] Boglehead quotes

Post by longinvest » Tue Feb 24, 2015 3:29 pm

mickeyd wrote:
longinvest wrote:I think that this thread is about great (favorite) quotes created by forum members, not about all favorite quotes.
Isn't Jack a forum member?
Yes, he is, and I really love his quotes, but he wrote that in his books. I really thought that the initial intent of this thread was to collect original quotes generated during forum discussions. Anyway, I'm not the OP, so you all do as you wish! :)
Bogleheads investment philosophy | Lifelong Portfolio: 25% each of (domestic/international)stocks/(nominal/inflation-indexed)bonds | VCN/VXC/VLB/ZRR

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Re: [favorite] Boglehead quotes

Post by lowerleisureclass » Tue Feb 24, 2015 5:09 pm

In all the reading I have done over the past few years to educate myself in my ongoing efforts to simplify my portfolio after firing my adviser, the following is hands down the most helpful thing I've read.
nisiprius wrote:
My answer to all such questions is: do it slowly and gradually. If you never make a start, you just remain confronted with the same problem and the same anxiety forever.

The problem is: it's an important decision, and it's human to keep changing your mind.

The answer is: decide what your best thinking is now, and do a little of it. Plan to get to your target allocation, not immediately, but over a period of several years.

* It discharges the anxiety you feel about doing nothing.

* It minimizes the anxiety you feel from making a big commitment, by turning it into a small commitment.

* It minimizes the impact of any decisions you are making due to recency, or faddishness, or panic.

* It forces you to slow down and not do things in a hurry.

It's a long-term decision. You should never feel that there is a rush to do long-term investing.

If you are making the right decision, six months from now it will still look like the right decision. Well, if you make the same decision with 10% of your money every six months, in five years you'll be 100% invested according to plan. But it gives you plenty of time to think about it, to read new headlines.

We talk about dollar cost averaging. It's also important to average out our impulses, our emotions, our mood swings.
"At either end of the economic spectrum there lies a leisure class." -- Eric Beck, rock climber

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"What the Experts Say About Investing"

Post by Taylor Larimore » Tue Feb 24, 2015 5:29 pm

Bogleheads:

The financial world is so huge that we can only learn a small portion of what there is to know. Retaining even this "small portion" is almost impossible. Accordingly, many years ago I began collecting quotes from investing experts to help me on the road to investment success. Our wiki editors honor me with its inclusion here:

What The Experts Say About Investing

Best wishes
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle

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Re: [favorite] Boglehead quotes

Post by grabiner » Tue Sep 29, 2015 7:48 pm

From Is BND really safe?, on the fundamental difference between stocks and bonds:
nisprius wrote:Think about what stocks are and what bonds are. Stocks are a company saying "You're our business partner, we'll pay you what we think we can afford, you share in ups, downs, general growth or possible failure." Bonds are a company saying "We promise to pay you certain numbers of dollars on certain dates, to us it's just like the light bill, as long as we can pay our bills at all we have to pay yours."
Wiki David Grabiner

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Re: [favorite] Boglehead quotes

Post by CABob » Wed Sep 30, 2015 9:33 pm

I can't recall where I first heard it, but one that always makes me chuckle is:
"Don't believe everything you read on the internet." Abraham Lincoln
Bob

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Re: [favorite] Boglehead quotes

Post by Index Fan » Wed Sep 30, 2015 9:38 pm

"When experts disagree, often it is because it doesn't matter much."

--Taylor Larimore

The longer I've invested, the more I've come around to the view that most portfolio decisions just don't matter. Find some way to own a reasonably large number of stocks from a reasonably large number of industries. Have some bonds or cash or something that will help you get through the lean years. That's good enough. Stay the course and you'll get satisfactory returns. Spitball the rest.

-backpacker
"Optimum est pati quod emendare non possis." | -Seneca

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Re: [favorite] Boglehead quotes

Post by TimeRunner » Wed Sep 30, 2015 9:47 pm

"You cannot enlighten the unconscious." - Robert Mellott. I prefer: "One cannot enlighten the unconscious."
"...There're just so many summers, and just so many springs." -Don Henley "What'd ya expect in an opera, a happy ending?" -Bugs Bunny

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Re: Boglehead quotes

Post by BogleBoogie » Wed Sep 30, 2015 9:50 pm

gotherelate wrote:I nominate this one for a classic boglehead quote:
G-Money wrote:When I want to get a good Boglehead quote, I pretty much just search the forum for any post by nisiprius.
I nominate both of these quotes. Please take mine into consideration as well.

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Re: [favorite] Boglehead quotes

Post by BogleBoogie » Wed Sep 30, 2015 9:53 pm

CABob wrote:I can't recall where I first heard it, but one that always makes me chuckle is:
"Don't believe everything you read on the internet." Abraham Lincoln
I actually know the guy that created that quote/joke who first posted it on this site in '97.

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Re: [favorite] Boglehead quotes

Post by novicemoney » Wed Sep 30, 2015 10:44 pm

For the retirees (or the almost there folks):
"I am not so much concerned with the return on capital as I am with the return of capital." -Will Rodgers.

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