[From May 4, 2019] Vanguard Founder Jack Bogle's Investment Tips, 12 Years Later

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Howard Donnelly
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[From May 4, 2019] Vanguard Founder Jack Bogle's Investment Tips, 12 Years Later

Post by Howard Donnelly » Fri Jul 12, 2019 5:28 am

"'Successful investing doesn't require sophistication and complexity; all that’s necessary is a healthy dose of common sense,' Bogle wrote, according to Barron’s."

https://www.bloomberg.com/news/articles ... ears-later

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nisiprius
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Re: [From May 4, 2019] Vanguard Founder Jack Bogle's Investment Tips, 12 Years Later

Post by nisiprius » Fri Jul 12, 2019 6:01 am

The article in turn references a 2007 article, written for Barron's by Bogle himself but not previously published: The Late Vanguard Founder Jack Bogle on 4 Simple Tips for Successful Investing. Nothing unfamiliar to Bogleheads. Four principles explained in four short paragraphs.

With regard to simplicity and complexity, I was struck by a quotation from a very different writer, Nassim Nicholas Taleb, in Skin in the Game, p. 167:
It is easy to scam people by getting them into complications--the poor are spared that kind of scamming. This is the same complication we saw in chapter 9 that makes academics sell the most possibly complicated solution when a simple one will do. Further, the rich start using "experts" and "consultants." An entire industry meant to swindle you will swindle you...
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

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Howard Donnelly
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Re: [From May 4, 2019] Vanguard Founder Jack Bogle's Investment Tips, 12 Years Later

Post by Howard Donnelly » Fri Jul 12, 2019 8:50 am

nisiprius wrote:
Fri Jul 12, 2019 6:01 am
The article in turn references a 2007 article, written for Barron's by Bogle himself but not previously published: The Late Vanguard Founder Jack Bogle on 4 Simple Tips for Successful Investing. Nothing unfamiliar to Bogleheads. Four principles explained in four short paragraphs.

With regard to simplicity and complexity, I was struck by a quotation from a very different writer, Nassim Nicholas Taleb, in Skin in the Game, p. 167:
It is easy to scam people by getting them into complications--the poor are spared that kind of scamming. This is the same complication we saw in chapter 9 that makes academics sell the most possibly complicated solution when a simple one will do. Further, the rich start using "experts" and "consultants." An entire industry meant to swindle you will swindle you...

Great quote by Taleb. Thank you, nisiprius.

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Dargo
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Re: [From May 4, 2019] Vanguard Founder Jack Bogle's Investment Tips, 12 Years Later

Post by Dargo » Fri Jul 12, 2019 8:57 am

Still good advice :moneybag
Life is what happens to you when you are busy making other plans..John Lennon

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