Who or what inspired you and your investing approach?

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timmy
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Who or what inspired you and your investing approach?

Post by timmy » Wed Aug 06, 2014 1:52 pm

I am curious... Who or what inspired you and your approach to personal finance and/or investing?

Me...

Scott Burns (old newspaper columnist... the wikipedia entry here http://en.wikipedia.org/wiki/Scott_Burns_(newspaper_columnist))... but here now http://assetbuilder.com/lazy_portfolios/

Humerto Cruz (old newspaper columnist... some old columns here http://www.sun-sentinel.com/business/sfla-business-cruz,0,3242547.columnist)... retired

chaz
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Re: Who or what inspired you and your investing approach?

Post by chaz » Wed Aug 06, 2014 2:03 pm

Mr. Bogle.
Chaz | | “Money is better than poverty, if only for financial reasons." Woody Allen | | http://www.bogleheads.org/wiki/index.php/Main_Page

John Z
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Re: Who or what inspired you and your investing approach?

Post by John Z » Wed Aug 06, 2014 2:13 pm

The first person who inspired me was Sheldon Jacobs, an author way back (late 70s) on No Load Investing. After learning these basics, found Vanguard and Jack Bogle.
John

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pennstater2005
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Re: Who or what inspired you and your investing approach?

Post by pennstater2005 » Wed Aug 06, 2014 2:15 pm

The Bogleheads :D And a thirst for more knowledge in this area.
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Re: Who or what inspired you and your investing approach?

Post by LateStarter1975 » Wed Aug 06, 2014 2:19 pm

Dave Ramsey inspired me on personal finance and the need to read often. I complied, then stumbled on John Bogle's "Little Book of Common Sense Investing". That book somehow led me to this forum. This forum has inspired my short investing life (since 2012)
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bottomfisher
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Re: Who or what inspired you and your investing approach?

Post by bottomfisher » Wed Aug 06, 2014 2:19 pm

A Random Walk Down Wall Street + Bogle Common Sense on Mutual Funds

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FelixTheCat
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Re: Who or what inspired you and your investing approach?

Post by FelixTheCat » Wed Aug 06, 2014 2:20 pm

Three people inspired me to my investing:

1) Dean Witter broker that never made a profit for me in 5 years because of the front-end loads I was paying.
2) A financial planner that lost 2/3 of my IRA and put me in whole life funds.
3) I eventually figured out that I could learn investing through the teachings of the Bogleheads. Now I am profitable.
Felix is a wonderful, wonderful cat.

NOVACPA
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Re: Who or what inspired you and your investing approach?

Post by NOVACPA » Wed Aug 06, 2014 3:02 pm

I would have to say my parents first and foremost.

I remember as a kid, like 6 or 7, they would always tell me that for every dollar I saved, I could double my money in 7 years. I w"rule of 72" to me. This is when interest rates were a touch higher...

I also remember them telling my babysitter that if she saved $5,000 a year, every year, for 40 years, she would have $1,000,000.

When I was 8 years old, they taught me about savings bonds. My mom purchased a bunch of $25.00 savings bonds (I want to say they were worth $50.00 in like 7 years(?)) and explained to me how those worked. That same year, at school they asked what we wanted for Christmas, and I said savings bonds... Looking back, I wish I understood time horizons and the ability to take risk with a 57 year time horizon!

When I was like 10, my dad and I opened up a brokerage account together. He was a big advocate of buying blue-chip companies with DRIP and forgetting about it. Anyway, I got to pick the stocks he and I purchased in that brokerage account. I bought Wrigley and Nintendo (I loved Double Mint gum and played a lot of Nintendo). I learned how to follow stock prices in the news paper and learned what a roller coaster checking the prices daily with my dad in the morning were.

When I was about 13 and working for the first time, I learned from the two of them that saving was the biggest factor for investing. My mom told me 1000 times about the "Latte Factor", which is a good way to tangibly see the effects of spending money on purchases that don't provide lasting value.

These are just a few anecdotes that I was fortunate to learn from my parents.

After reading some later posts, I realize you may have been looking for more "celebrity types"...

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dodecahedron
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Re: Who or what inspired you and your investing approach?

Post by dodecahedron » Wed Aug 06, 2014 3:13 pm

My late husband and his late mother.

And, although my parents never had much to invest, my mother is a model of resourceful creative frugality who inculcated me with a joyful approach to living below one's means and my late father showed me how much bliss could be found for free or on a shoestring, in enjoying public parks, libraries, and museums, playing chess or bridge or board games, reading great literature or chatting and sipping iced coffee with friends, taking walks under the stars or by moonlight.

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Re: Who or what inspired you and your investing approach?

Post by supertreat » Wed Aug 06, 2014 3:24 pm

Suze Orman. I saw her on TV once recommending index funds. I had no idea what they were but was curious so after a quick internet search it got me interested in learning about them. I eventually made my way to the bogleheads forum and the rest is history!
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hyla
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Re: Who or what inspired you and your investing approach?

Post by hyla » Wed Aug 06, 2014 5:20 pm

A coworker who was interested in investing and had the same (low) salary as me. I looked into starting a retirement account right after college, but didn't because I couldn't figure out how to get over the initial hurdle of a minimum deposit. Getting investment advice a few years later from someone at the same income level convinced me I could scrape together an $3000 deposit too. And I got advice relevant to my situation (Roth IRA since no employer plan, target date fund so I only needed one minimum deposit to be diversified).

Gropes & Ray
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Re: Who or what inspired you and your investing approach?

Post by Gropes & Ray » Wed Aug 06, 2014 5:23 pm

The managers of my 401k. They were significantly underperforming the market, so I decided to select my own funds, and discovered that the whole idea of investing was much simpler than I thought it was. But, I'm still learning.

livesoft
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Re: Who or what inspired you and your investing approach?

Post by livesoft » Wed Aug 06, 2014 5:25 pm

I have to write that it was William Bernstein and "The Four Pillars of Investing" from the library that got me into small-cap value tilting and slice-and-dicing. That led to books by Rick Ferri and Larry Swedroe and others.

Before those guys, I had read Malkiel and Bogle, so I was already doing the no-load low-expense-ratio thing. We've been Vanguard customers since at least 1982. I would like to remind folks that the investing landscape and products in 1982 is not what it is today. What is the date of inception of Vanguard Total Bond Market Index fund? Which Vanguard bond fund existed many years before that one?
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Re: Who or what inspired you and your investing approach?

Post by Frezio » Wed Aug 06, 2014 5:42 pm

Burton Malkiel (of A Random Walk Down Wall Street fame) was my intro to finance professor in college and talked about the benefits of index funds and the efficient market hypothesis. I've never looked back.

Gretchen
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Re: Who or what inspired you and your investing approach?

Post by Gretchen » Wed Aug 06, 2014 5:54 pm

You folks.

spectec
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Re: Who or what inspired you and your investing approach?

Post by spectec » Wed Aug 06, 2014 6:02 pm

1) Malcolm Forbes (now deceased)
2) Bob Brinker
3) Warren Buffett
4) John Bogle
5) Larry Burkett (now deceased)
6) Dave Ramsey
7) Paul (the Apostle)

I used to look forward to Malcolm Forbes' articles each issue - always entertaining. The first time I heard about Berkshire Hathaway & Warren Buffet was in a Forbes article. For many years I would listen to Bob on the radio, and he frequently mentions the "Oracle of Omaha" as well as John Bogle, Vanguard, and Index Funds. So thanks to Bob's repetition, I focused more-and-more on John Bogle's wisdom.

Larry was, and Dave still is, helpful in both the investing and stewardship arenas, and they provide good balance to a strictly analytical approach to financial matters. Each of those last 3 continually challenge me to remember that there is much more to sound financial stewardship than simply accumulating the biggest pile of dollars possible before I die.
Last edited by spectec on Wed Aug 06, 2014 7:13 pm, edited 1 time in total.
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

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dumbbunny
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Re: Who or what inspired you and your investing approach?

Post by dumbbunny » Wed Aug 06, 2014 6:14 pm

Once upon a time Louis Rukeyser had a guest on Wall Street Week. His name - John Bogle.
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spectec
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Re: Who or what inspired you and your investing approach?

Post by spectec » Wed Aug 06, 2014 6:24 pm

Yes!
Who could forget Louis, with that snow-white hair and receding hairline?
Great sense of humor.

From Wikipedia: " In answering a letter on investing in a hairpiece manufacturer, he quipped that 'if your money seems to be hair today and gone tomorrow, we'll try to make it grow back by giving the bald facts on how to get your investments toupee.'"
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

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Zabar
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Re: Who or what inspired you and your investing approach?

Post by Zabar » Wed Aug 06, 2014 6:25 pm

An uncle of mine who screwed up his financial life, saw his business go bankrupt, and wound up working as a messenger when he was in his late 60s. I decided that I didn't want to be in that position.

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Sulley
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Re: Who or what inspired you and your investing approach?

Post by Sulley » Wed Aug 06, 2014 6:35 pm

Watching my accounts at Schwab and American Express (Ameriprise) forced me to look elsewhere. Thankfully I ended up here.

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DaleMaley
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Re: Who or what inspired you and your investing approach?

Post by DaleMaley » Wed Aug 06, 2014 8:22 pm

In the late 1970's, I used to go over to my friends house and I noticed a Money magazine laying out in his brother's room. I thumbed through it....it looked interesting....so I subscribed to it around 1978.

In 1979, I took an adult ed class taught by an Edward Jones broker. As a text book, he used Venita VanCaspel's 1978 book The New Money Dynamics. Through her book, I learned about the value of compound interest and the importance of saving.

I decided to save 15% of gross income and each month invest in 3 good no-load stock mutual funds. I decided to pick 3 funds with the best 5 year records and invest in them...starting in 1979.

In the 80's, I got very frustrated because my 3 top performing funds gradually became average versus top performing funds. There seemed to be no way to know in advance how to pick the best performing funds.

This problem bugged me so much, that in 1990 I decided to write my term paper in finance for my MBA on how to find the best mutual fund. Using Consumer Reports magazine, I found that only 1 fund came within +/-20% of the S&P 500 in each of the last 5 years....and this fund was the Vanguard Index 500 fund. This was my "aha" moment. As a result of this paper, I switched all my common stock mutual fund money to Vanguard's Index 500 fund in late 1990. I have been an avid indexer ever since.

So, it was a combination of Money magazine, an adult ed class, Venita VanCaspel's book, watching mutual fund performance over several years, an MBA finance class, and Consumer Reports magazine that got me on the path of index fund investing.....which occurred over a span of about 12 years.
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

john94549
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Re: Who or what inspired you and your investing approach?

Post by john94549 » Wed Aug 06, 2014 8:38 pm

I began to collect stamps at age 8. At that age, I was also moving snow from driveways and mowing yards. Every week, I would trudge to the local Savings Bank (Anchor Savings, in Ranchmart, Leawood, KS), deposit my earnings and watch the total grow. Any questions?

PS: Stamps, not such a good idea. The savings account, a good idea.

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bengal22
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Re: Who or what inspired you and your investing approach?

Post by bengal22 » Wed Aug 06, 2014 8:50 pm

Shakespeare... "Never a lender or borrower be"

Johm221122
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Re: Who or what inspired you and your investing approach?

Post by Johm221122 » Wed Aug 06, 2014 8:54 pm

In order
Grandparents (work ethic)

Older roommate from long ago (taught me there was away to invest besides a bank)

Local library (I literally read every book)

Internet (search and searched)

Bogleheads (brought everything together and taught me to search when something new comes up)


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sscritic
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Re: Who or what inspired you and your investing approach?

Post by sscritic » Wed Aug 06, 2014 8:59 pm

I have no idea who came first. I watched Louis Rukeyser on Wall Street Week but I also watched Charting the Market with Gene Morgan on Channel 22 in Los Angeles (this was after watching the 15 minute delayed ticker run across the bottom earlier in the day). Those may have been inspirations of what not to do. I think I first bought Putnam Investors in the early 70s, but I already had money in TIAA and CREF (the TIAA was what is now called traditional, but no one called it that when it was the only one, and with Stock, again, there was no choice, it was just CREF). My favorite investment ever was 44 Wall Street Fund run by David Baker, but that was my daughter's money. What a fun ride that was.

I just read things from time to time. By the late 80s, I was sharing an office suite with the Chair of the Finance Department. I definitely read Forbes, Money, Business Week, and the WSJ (one of my favorite pictures is of me eating an ice cream cone outside while reading the Journal). It wasn't until after I retired that I really read any books. My investing approach is an amalgam of it all, the parts I accepted and the parts I rejected (not all at the same time). It was evolutionary, with no single event, person, or book "inspiring" me.

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danwhite77
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Re: Who or what inspired you and your investing approach?

Post by danwhite77 » Wed Aug 06, 2014 9:02 pm

A fantastic professor at NYU's business school named David Yermack. In one of his classes he led me to the door of indexing and even identified Vanguard by name. NYU's tuition for that year was expensive, but his advice alone has paid many dividends!
"While some mutual fund founders chose to make billions, he chose to make a difference." - Dedication to Jack Bogle in 'The Bogleheads' Guide to Investing'.

Khanmots
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Re: Who or what inspired you and your investing approach?

Post by Khanmots » Wed Aug 06, 2014 9:06 pm

For a while I hadn't bothered learning anything cause investing didn't interest me and I figured leave it to professionals. I had an advisor for a few years... until I got tired of stupid fees on everything (finding a $20 quartly fee on the money market sweep account was the final straw for me)

I then spent a week or so thinking about investing and what really mattered and came to the conclusion that all I could really manage was my costs (incl. taxes). Started searching the net for resources from that perspective and found this site... :)

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BTDT
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Re: Who or what inspired you and your investing approach?

Post by BTDT » Wed Aug 06, 2014 9:12 pm

The Boglehead's forum, Taylor Larimore, John Bogle, along with many BH forum contributor's.

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cfs
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Re: Who or what inspired you and your investing approach?

Post by cfs » Wed Aug 06, 2014 9:13 pm

US Postal Savings Stamps = My First Investment.

Actually, I was not inspired by anyone. I was a hard-working kid, from a poor family, and learned the art of saving and investing as a kid. My first investment was the United States Postal Savings Stamps, and no, they are not around anymore. I used to buy the 10 cents savings stamps with the money received from selling newspapers, fishing with my father, selling fruits, and shining shoes, those were difficult times.

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dewey
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Re: Who or what inspired you and your investing approach?

Post by dewey » Wed Aug 06, 2014 9:14 pm

pennstater2005 wrote:The Bogleheads :D And a thirst for more knowledge in this area.


+1. Also a Penn Stater...
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Re: Who or what inspired you and your investing approach?

Post by Fallible » Wed Aug 06, 2014 9:29 pm

Going way back, the original inspiration probably was family frugality leading to a desire for a simple, low-cost investing approach, leading to Jack Bogle.
Bogleheads® wiki | Investing Advice Inspired by Jack Bogle

LongerPrimer
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Re: Who or what inspired you and your investing approach?

Post by LongerPrimer » Wed Aug 06, 2014 9:29 pm

Waddell&Reed salesman my supervisor then later a car pooled who was with AL Williams. The W&R showed us TVM and the ALW guy showed us the passion of TVM. Then the guys at Citibank showed us the greed. :oops:

gtmn
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Re: Who or what inspired you and your investing approach?

Post by gtmn » Wed Aug 06, 2014 9:36 pm

Both of my grandmothers taught me the primary importance of saving money. My grandfather gifted a small amount of stock and said to always reinvest the dividends and to never sell it. It wasn't a diversified portfolio, but it taught me the power of compounding. Taking that lesson into the 90's, I learned how to diversify with mutual funds by reading Money Magazine. Then I read Bogle and was convinced that this was the right way to invest, so I read similar works by Burton Malkiel, Dr. William Bernstein, and Charles Ellis. I'm still inspired by reading Warren Buffet because he focuses on buying and holding businesses for the long, long haul. I enjoyed reading "The Only Investment Guide You'll Ever Need" by Andrew Tobias because it showed many simple ways to save more money and humorously dismissed the many ways other people will try to take it from you. It made investing seem so simple and even fun.

Lastly, I'll mention Jonathan Clements, whose column I read every Sunday morning. Boglehead investing is straightforward and simple, and I'm grateful that he stayed consistent with the BH message week after week instead of trying more exciting topics. I think consistency helped me build the strong investing habits so I stay the course.

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LowER
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Re: Who or what inspired you and your investing approach?

Post by LowER » Wed Aug 06, 2014 9:38 pm

Burton Malkeil and a persistent AF salesman. Polar approaches that forced me to pick a pole.

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joe8d
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Re: Who or what inspired you and your investing approach?

Post by joe8d » Wed Aug 06, 2014 9:42 pm

Two production guys at work. Every time I'd walk by them they were discussing stocks. So one day, I stopped and started talking to them and got interested and keep stopping by and asking them questions and started reading and the rest is history :happy
Last edited by joe8d on Wed Aug 06, 2014 9:44 pm, edited 1 time in total.
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Paul Basenberg
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Re: Who or what inspired you and your investing approach?

Post by Paul Basenberg » Wed Aug 06, 2014 9:42 pm

Taylor Larrimore, which led to reading Larry Swedroe, Bill Berstein, and a host of others.

Regards,Paul

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cheese_breath
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Re: Who or what inspired you and your investing approach?

Post by cheese_breath » Wed Aug 06, 2014 9:46 pm

Investing for Dummies.
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Re: Who or what inspired you and your investing approach?

Post by Fallible » Wed Aug 06, 2014 9:51 pm

dodecahedron wrote:My late husband and his late mother.

And, although my parents never had much to invest, my mother is a model of resourceful creative frugality who inculcated me with a joyful approach to living below one's means and my late father showed me how much bliss could be found for free or on a shoestring, in enjoying public parks, libraries, and museums, playing chess or bridge or board games, reading great literature or chatting and sipping iced coffee with friends, taking walks under the stars or by moonlight.


I just posted my inspirations, but wanted to say they were somewhat inspired by your post. Jack Bogle was my main inspiration to indexing, but reading your lovely description of family and simple pleasures, I realized that my growing up in a similar, frugal family (park and library across the street from home, much reading, and card and board games),was where my investing inspiration truly began. Thank you!
Bogleheads® wiki | Investing Advice Inspired by Jack Bogle

slowmoney
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Re: Who or what inspired you and your investing approach?

Post by slowmoney » Wed Aug 06, 2014 11:42 pm

I was inspired by in mostly chronological order:

1. Burton Malkiel - "A Random Walk Down Wall Street". A must read.

2. Jeremy Siegel - "Stocks for the Long Run". A must read.

3. Rick Ferri - "All About Asset Allocation". A must read. Since, I have read quite a bit of Ferri but never met Rick. Oddly enough, on occasion it feels like I am reading my thought patterns. :shock: Yeah...it's creepy and probably repulsive to a lot of posters on this board but it's probably worse for Rick? Or maybe Rick has alot of financial groupies! :oops: Anyway all kidding aside, Rick's Core Four heavily inspired my portfolio. I find Rick's investment outlook refreshingly familiar.

4. David Swenson - "Unconventional Success". A must read. My portfolio is also inspired by the suggest portfolio as well.

5. Mr. Bogle. I was all ready in the choir when I started reading Bogle. But Jack Bogle did started the company, Vanguard. Vanguard makes this Boglehead portfolio possible.

6. The authors of "The Bogleheads' Guide to Investing" which lead me to this site. Quite frankly there is a lot of "stuff" on this site but I still find insightful posts after all this time. Thank you.
Information is more valuable sold than used. - Fischer Black (1938-1995)

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pjstack
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Re: Who or what inspired you and your investing approach?

Post by pjstack » Thu Aug 07, 2014 12:51 am

This website.
pjstack

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4nursebee
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Re: Who or what inspired you and your investing approach?

Post by 4nursebee » Thu Aug 07, 2014 5:36 am

I inspired myself. I wanted and want more and better.
Tony Robbins- Constant and Never Ending Improvement.
Motley Fool- I started a Vanguard Roth and made 30% on first stock. I sold too early...NFLX in the 30's
Being married and wanting to provide more.
WON/IBD- some good common sense stuff but wow did I go overboard.
Failure- I leaned into it and the depression and let it teach me.
The truths spoken by many related to BH.
Fred Kobrick BASM
My father and two others for real estate.
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nisiprius
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Re: Who or what inspired you and your investing approach?

Post by nisiprius » Thu Aug 07, 2014 6:05 am

In chronological order:

Andrew Tobias, The Only Investment Guide You'll Ever Need.

Various educational literature/propaganda from TIAA-CREF. I was naïve enough to take everything they said pretty much at face value, and fortunately for me it was TIAA-CREF and my trust wasn't misplaced.

Burton Malkiel, A Random Walk Down Wall Street.

This forum (and a swarm of books and articles it has pointed me to).

Nassim Nicholas Taleb, Fooled By Randomness and The Black Swan.

Benoit Mandelbrot and Richard L. Hudson The (mis)Behavior of Markets: A Fractal View of Financial Turbulence

I think the last one should be a must-read for anyone who has gotten to the point where they have heard the terms "standard deviation," "MPT," or "Sharpe" ratio. It is extremely important. The literal meaning of the word "obscene" means "to look away from," something that is so awful that one averts one's gaze, looks elsewhere, and pretends not to see it. I think the investment theory community regards this book as obscene, in that sense. They pretend it's not there because they can't either discredit it or accept it.
Last edited by nisiprius on Thu Aug 07, 2014 6:14 am, edited 3 times in total.
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Re: Who or what inspired you and your investing approach?

Post by Levett » Thu Aug 07, 2014 6:12 am

John Biggs (TIAA), John Bogle, John Neff (also Vanguard, but some may be too young to remember him!).

As for playing defense as a retiree, Mandelbrot for sure!

Lev

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Lifut
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Re: Who or what inspired you and your investing approach?

Post by Lifut » Thu Aug 07, 2014 6:19 am

Two years ago I decided I needed to learn about investing so I picked up Burton Malkiel's A Random Walk Down Wall Street. I could have picked much worse. I found the Bogleheads soon after.

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Re: Who or what inspired you and your investing approach?

Post by scrabbler1 » Thu Aug 07, 2014 7:00 am

When I was a kid in the 1960s and 1970s, and an adult in the 1980s and 1990s, I had a few people who got me started in the direction of saving and investing.

My uncle bought me one share of Ford Motor Company so every 3 months I got a small dividend check in the mail. I would also look up in the Sunday NY Times back then the share's value. Ford had some problems in the late 1970s so the checks stopped coming for a while. Then they sprung back to life and had a 5-for-4 stock split and bought back all the fractional shares, so I received a small check in the mail for extra 1/4 share. I thought to myself, now a teenager, "this is pretty cool, making money without doing anything!" I already had a passbook (custodian) savings account so I had been receiving interest on it for many years.

My maternal grandmother had set up some savings accounts for me and her other 3 grandchildren, putting in $10 or $20 a few times a year for each of the 4 of us back in the 1960s and 1970s. After she died in 1981, the proceeds got turned over to us or our parents depending on how old we were. I had just turned 18 and was about to go off to college so the few thousand dollars which had built up in there over the years came in handy. What she did taught me the value of saving small amounts over a long period of time and the value of compounding.

As a business student at NYU, I took a finance course which taught me a lot of the concepts of investing. One key things I learned was how to amortize a loan such as a mortgage. I still have the textbook which included a chart with some key formulas about how to calculate the loan's monthly payment, something I was later able to program into a spreadsheet. That helped me figure out how much I would save by refinancing my own mortgage in the early 1990s and when to pay it off early.

My mother played a big role, too. Back in the 1970s, I helped her with monthly budget and paying bills, even if it were little more than sealing envelopes and attaching stamps. I saw how she organized her bills and balanced her checkbook every month. Being good at math, I helped her prepare her income tax returns, too. Years later, when I was on my own, she suggested I buy into a co-op instead of renting so I could get the advantage of the tax deductions. She was an avid listener of Dr. Bernard Meltzer who had a advice (financial and other) radio show in the 1970s and 1980s. She also pointed me toward Fidelity Investments and my first mutual fund outside of my 401k, a triple-tax-free (NY) muni bond fund so I could avoid income taxes on my small savings. Sadly, she died in 1995 but did see the first few years of my investing with Fidelity.

There was a Fidelity rep who pointed me toward their Equity-Income II (now called Equity-Dividend Income) fund in the mid-1990s just when the stock market began taking off. I have made a lot of money with that fund in the last 18 years.

jginseattle
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Re: Who or what inspired you and your investing approach?

Post by jginseattle » Thu Aug 07, 2014 3:22 pm

John Bogle.
Larry Swedroe.
William Bernstein.
David Swensen.
Howard Marks.
Moshe A. Milevsky.

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GerryL
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Re: Who or what inspired you and your investing approach?

Post by GerryL » Thu Aug 07, 2014 4:24 pm

My parents taught me to save. Allowance had to be budgeted for different purposes (e.g., milk money, gifts for others, fun stuff) and when I wanted some great new toy they would make a deal with me to chip in half if I saved the other half. I remember over the years getting a large doll, an erector set and a telescope using the we'll-pay-half process.

But that is saving. My investing approach was inspired by a timely issue of Consumer Reports that helped me understand mutual funds at a time when all I knew was that I needed to put my growing IRA into something more than CDs. The key takeaway from the feature article (and ratings) was that expenses are important. Also provided my introduction to Vanguard.

BenBritt
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Re: Who or what inspired you and your investing approach?

Post by BenBritt » Thu Aug 07, 2014 4:33 pm

How to Buy Stocks by Louis Engel. I believe this was my first book on subject.

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joe8d
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Re: Who or what inspired you and your investing approach?

Post by joe8d » Thu Aug 07, 2014 7:34 pm

BenBritt wrote:How to Buy Stocks by Louis Engel. I believe this was my first book on subject.


That was also the very first book I read on the subject oh so many years ago :happy
All the Best, | Joe

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Toons
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Re: Who or what inspired you and your investing approach?

Post by Toons » Thu Aug 07, 2014 7:55 pm

More than several decades ago ,when observing ,then understanding the power of "compounding' as it related to my small investment portfolio at the time,I decided to save and invest as often as I could,realizing it was time in the market not timing. :happy :happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

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