The twelve pillars of wisdom

From Bogleheads
Bogle on Mutual Funds
BogleonMutualFunds.jpg
AuthorJohn C. Bogle
PublisherDell publishing
Publication date
October, 1994
Pages352 pp (Trade paperback)
ISBN978-0-440-50682-9

John Bogle first laid out The twelve pillars of wisdom in his book Bogle on Mutual Funds: New Perspectives for the Intelligent Investor. He revisited them at length on April 27, 2001, in remarks at The Arizona Republic Investment Strategies Forum, Phoenix, Arizona.[1]

  • Pillar 1. Investing Is Not Nearly as Difficult as It Looks
  • Pillar 2. When All Else Fails, Fall Back on Simplicity
  • Pillar 3. Time Marches On
  • Pillar 4. Nothing Ventured, Nothing Gained
  • Pillar 5. Diversify, Diversify, Diversify
  • Pillar 6. The Eternal Triangle
  • Pillar 7. The Powerful Magnetism of the Mean
  • Pillar 8. Do Not Overestimate Your Ability to Pick Superior Equity Mutual Funds, nor Underestimate Your Ability to Pick Superior Bond and Money Market Funds
  • Pillar 9. You May Have a Stable Principal Value or a Stable Income Stream, But You May Not Have Both
  • Pillar 10. Beware of "Fighting the Last War"
  • Pillar 11. You Rarely, If Ever, Know Something The Market Does Not
  • Pillar 12. Think Long-Term

References

  1. "The Twelve Pillars of Wisdom" (PDF). April 27, 2001. Archived from the original on March 4, 2007.