The twelve pillars of wisdom

Bogle on Mutual Funds

Author	John C. Bogle
Publisher	Dell publishing
Publication date	October, 1994
Pages	352 pp (Trade paperback)
ISBN	978-0-440-50682-9

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.

• 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