Quotes from The Bogleheads' Guide to Investing

“The shortest route to top quartile performance is to be in the bottom quartile of expenses. —Jack Bogle”
― quote from The Bogleheads' Guide to Investing

“I helped put two children through Harvard—my broker’s children. —Michael LeBoeuf”
― quote from The Bogleheads' Guide to Investing

“There is a crucially important difference about playing the game of investing compared to virtually any other activity. Most of us have no chance of being as good as the average in any pursuit where others practice and hone skills for many, many hours. But we can be as good as the average investor in the stock market with no practice at all.
Jeremy Siegel, Professor of Finance, Wharton School, University of Pennsylvania, and author of Stocks for the Long Run”
― quote from The Bogleheads' Guide to Investing

“If you buy an S&P 500 index fund, your investment is highly diversified and its performance will match that of 500 leading U.S. corporations' stocks. Is it possible to lose all of your money? Yes, but the odds of that happening are slim and none. If 500 leading U.S. corporations all have their stock prices plummet to zero, the value of your investment portfolio will be the least of your problems. An economic collapse of that magnitude would make the Great Depression look like Lifestyles of the Rich and Famous.”
― quote from The Bogleheads' Guide to Investing

“As an investor you can be well above average by settling for slightly less than the index returns.”
― quote from The Bogleheads' Guide to Investing

“Index investing is an investment strategy that Walter Mitty would love. It takes very little investment knowledge, no skill, practically no time or effort-and outperforms about 80 percent of all investors. It allows you to spend your time working, playing, or doing anything else while your nest egg compounds on autopilot. It's about as difficult as breathing and about as time consuming as going to a fast-food restaurant once a year.”
― quote from The Bogleheads' Guide to Investing

“Here is the crux of the strategy: Instead of hiring an expert, or spending a lot of time trying to decide which stocks or actively managed funds are likely to be top performers, just invest in index funds and forget about it!”
― quote from The Bogleheads' Guide to Investing

“Index funds outperform approximately 80 percent of all actively managed funds over long periods of time. They do so for one simple reason: rock-bottom costs. In a random market, we don't know what future returns will be. However, we do know that an investor who keeps his or her costs low will earn a higher return than one who does not. That's the indexer's edge.”
― quote from The Bogleheads' Guide to Investing

“If you don't think those miniscule costs matter, consider this: Let's assume someone puts $10,000 in a mutual fund, leaves it there 20 years, and gets an average annual return of 10 percent. If the fund had an expense ratio of 1.5 percent, the fund is worth $49,725 at the end of 20 years. However if the fund had an expense ratio of 0.5 percent, it would be worth $60,858 at the end of 20 years. Just a 1 percent difference in expenses makes an 18 percent difference in returns when compounded over 20 years.”
― quote from The Bogleheads' Guide to Investing

“William Bernstein, Ph.D., M.D., author of The Four Pillars of Investing, frequent guest columnist for Morningstar and often quoted in The Wall Street Journal: "An index fund dooms you to mediocrity? Absolutely not: It virtually guarantees you superior performance.”
― quote from The Bogleheads' Guide to Investing

“Warren Buffett, chairman of Berkshire Hathaway and investor of legendary repute: "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. Those following this path are sure to beat the net results (after fees and expenses) delivered by the great majority of investment professionals.”
― quote from The Bogleheads' Guide to Investing

“Paul Farrell, columnist for CBS Marketwatch and author of The Lazy Person's Guide to Investing: "So much attention is paid to which funds are at the head of the pack today that most people lose sight of the fact that, over longer time periods, index funds beat the vast majority of their actively managed peers.”
― quote from The Bogleheads' Guide to Investing

“Burton Malkiel, professor of economics, Princeton University and author of A Random Walk Down Wall Street: "Through the past thirty years more than two-thirds of professional portfolio managers have been outperformed by the unmanaged S&P 500 Index.”
― quote from The Bogleheads' Guide to Investing

“Paul Samuelson, first American to win the Nobel Prize in Economic Science: "The most efficient way to diversify a stock portfolio is with a low fee index fund. Statistically, a broadly based stock index fund will outperform most actively managed equity portfolios.”
― quote from The Bogleheads' Guide to Investing

“Jason Zweig, senior writer and columnist at Money magazine and coauthor of the revised edition of Benjamin Graham's classic, The Intelligent Investor: "If you buy-and then hold-a total stock market index fund, it is mathematically certain that you will outperform the vast majority of all other investors in the long run. Graham praised index funds as the best choice for individual investors, as does Warren Buffett.”
― quote from The Bogleheads' Guide to Investing

Popular quotes

“I learned in that moment that there are different darknesses. That there is ordinary darkness, like the night in the countryside, where, even on a night with no moon, as you stare things loom, take form; and there is another darkness, a darkness so profound you cannot begin to imagine it, cannot conjure it up in your mind. A darkness that blots out all you remember or hope for. A darkness that teaches that all that consoles you is false.”
― Margaret Leroy, quote from The Soldier's Wife

“He carried Claire out of the room and down the steps, feeling the whole way like maybe he should hold onto the railing. “Ja. Nigh-nigh,” Claire said, big blue eyes looking at him. “Uh, sure.” He knew three languages, and none of them were helping him out right now.”
― Laura Kaye, quote from One Night with a Hero

“We interact with one another as individuals responding to a complex haze of factors: professional responsibilities, personal likes and dislikes, ambition, jealousy, self-interest, and, in at least some instances, genuine altruism. Living in the here and now, we are awash with sensations of the present, memories of the past, and expectations and fears for the future. Our actions are not determined by any one cause; they are the fulfillment of who we are at that particular moment. After that moment passes, we continue to evolve, to change, and our memories of that moment inevitably change with us as we live with the consequences of our past actions, consequences we were unaware of at the time.”
― Nathaniel Philbrick, quote from The Last Stand: Custer, Sitting Bull, and the Battle of the Little Bighorn

“Muffled footsteps sounded in the distance. Goldie heard a shout, and the heavy clank of punishment chains. The footsteps came closer. A boy began to sing in a hoarse, adolescent voice. "Awa-a-a-y, across the ocean-a-an, awa-a-a-y, across the sea-a-a-a-."

There was a slap, and a yell. The singing stopped, but only for a moment. When it started up again, there were a dozen or more voices, all caterwauling at the top of their lungs. "-I'll go-o-o-o where my heart takes me, where my-y-y-y love waits for me-e-e-e-e."

A pause. A furious adult's voice said, "It's not your love that's waiting for you, you little villains, it's the House of Repentance! Deliberate destruction of property, putting the lives of others at risk, oh you're in for it, you are!"

Clank clank clank, went the punishment chains. "I’ve be-e-e-e-en away so long, dear, I've tra-a-a-aveled far and wi-i-i-i-i-ide-" sang the voices.

Goldie edged along the wall and eased the door open. There was a bustle and a shoving and a clanking, and suddenly the corridor in front of her was full of boys, milling backward and forward, rattling their chains and singing loudly. They were all older than Goldie, but they wore the same gray threadbare smock and leggings. Somewhere in the middle of them were two Blessed Guardians. The smell of burning hung over them all.

There was no time to think. Goldie couldn't see Toadspit, but she was sure he must be there somewhere. She whispered a quick "thank you" to Bald Thoke, then she stepped out into the corridor and tucked herself between two of the boys.

For a heart-stopping moment the song faltered. The boys on either side of Goldie shot incredulous glances at her-

Then they closed smoothly around her and began to sing louder than ever, their voices bouncing off the high ceilings. "Three yea-a-a-a-ars I rowed the galley-y-y-ys, three year-a-a-a-ars I was a sla-a-a-a-ave-."

They spilled out into the foyer, a laughing, shouting, singing rabble. The Guardians who led them were shouting too. Only Goldie was silent. She crouched between the tall, raucous boys, her smock blending with theirs, her pulse thundering in her ears.

"What's this?" shouted the toad-like Guardian. "Where are you taking them at this time of night?"

"Set fire to their beds?" shouted one of the other Guardians. "Don't know what's got into them! Marching them off to Repentance!"

"I'll need their names!"

"If I-I-I-I-I could turn back time, dea-a-a-a-ar, if I-I-I-I-I-I could start aga-a-a-a-a-in-"

"For Great Wooden's sake, we'll give them to you when we come back. I can't bear this appalling racket a moment longer!"

And with that, the boys, Goldie and the two Guardians spilled out the front door of Care, across the yard and through the gate.”
― Lian Tanner, quote from Museum of Thieves

“Careful lads," said the beetle at the front. "She's dangerous all right. Look at that changeable expression."
"I'm not dangerous," I told them.
"Dangerous. Not dangerous. Same thing," said the beetle.
"And what I say," said the next beetle along, "is, it's the dangerous ones you have to watch out for.”
― Neil Gaiman, quote from MirrorMask

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