🐺Jack Bogle was One of The Most Successful Men in History

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Jack Bogle is the founder of Vanguard.

His company manages over $7 trillion in assets.

That’s greater than the GDP of nearly every country on earth.

Here are his 10 investing principles:

1/ Reversion To The Mean

Jack believes that all investments eventually lead back to their historical averages.

He cautions people from exclusively looking back at past performances.

Instead, look at all the data available. Everything averages out.

2/ Realistic Expectations

Realistic expectations are critically important for long-term investments.

Otherwise, you’ll be upset with decent returns and slide out of the game.

Jack suggests common stocks should earn a pre-inflation return of 7% annually.

3/ Compound Interest

Jack preaches the importance of understanding compound interest.

At 7% interest, money doubles every 10 years.

That process repeats itself every decade as wealth cascades in your favor.

4/ Buy Right & Hold Tight

Buy great investments and hold on through thick n’ thin.

Rate changes, management performance, and unemployment shouldn’t sway you.

The roller coaster always goes up with the right time horizon in mind.

5/ Diversify

Jack says to forget the needle and buy the entire haystack.

The winners will always overperform the losers in the long run.

Why invest in a few stocks when you can invest in the entire market instead?

6/ Minimize The Croupier’s Take

Investing has hidden fees that rookie investors don’t realize.

Commissions, spreads, management fees, taxes, etc.

That’s why Jack suggests index funds over actively managed stock funds.

7/ There’s No Escaping Risk

In the world of investing, risk is unavoidable.

Instead, shift your mindset from avoiding risk to managing it.

If you truly want to avoid risk, let inflation erode your savings in the bank – it’s guaranteed.

8/ Don’t Fight The Last War

Everyone assumes what’s happening now will continue to happen.

Inflation problems will continue, tech stocks will dominate for a century, etc.

In reality, we’re never 100% sure what’ll happen – keep an open mind instead.

9/ The Hedgehog Beats the Fox

Jack loves the following saying by the famous Greek Poet Archilochus:

“The fox knows many things, but the hedgehog knows one great thing.”

Jack believes the hedgehog of investing is owning the market through low-cost index funds.

10/ Stay On Course

The biggest secret of investing is that there is no secret!

It requires discipline, patience, emotional intelligence, and due diligence.

But it also requires the most uncommon gift of all – common sense.

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