Businessman

In my long experience, one thing I know is that truth is elusive.

There is almost no limit to the ability of investors to ignore the lessons of the past.

I don't like going into stores, I don't like the whole process of buying things.

If the fluctuations in your investment portfolio are reduced, the impact of emotions and behavior on your account is also reduced.

The malfeasance and misjudgments by our corporate, financial and government leaders, declining ethical standards, and the failure of our new agency society reflect a failure of capitalism.

The culture of the mutual fund industry, when I came into it in 1951, was pretty much a culture of fiduciary duty and investment, with funds run by investment professionals. The firm I worked with, Wellington Management Co., they had one fund. That was very typical in the industry... investment professionals focused on long-term investing.

Never underrate the importance of asset allocation.

While we would typically encourage young people to start saving for the future as early as possible, it's unlikely that a budding entrepreneur will be able to do so. The entrepreneur will need every bit of capital available for the business, which will likely crowd out personal savings.

Invest as efficiently as you can, using low-cost funds that can be bought and held for a lifetime.

The Vanguard Experiment was designed to prove that mutual funds could operate independently, and do so in a manner that would directly benefit their shareholders.

At the beginning of my sophomore year at Princeton University, I took my first economics course; our textbook was the first edition of Samuelson's 'Economics: An Introductory Analysis.'

My favourite holdings are Vanguard's Wellington Fund, a balanced mutual fund which is a legacy investment from my first career at Wellington Management Co., and the Vanguard 500 Index Fund.

Well, bitcoin is a currency. Bitcoin has no underlying rate of return. You know, bonds have an interest coupon. Stocks have earnings and dividends. Gold has nothing, and bitcoin has nothing. There is nothing to support the bitcoin except the hope that you will sell it to somebody for more than you paid for it.

I've usually used the phrase 'stay the course' as one of the great rules of investment success.

It seems to me - particularly for these retirement-plan investors, the vast majority of whom are not particularly financially sophisticated - by far the best way is to invest in index funds.

The average hedge fund manager is going to earn zero per cent in extra return.

We do some things for family reasons. If it's not consistent, well, life isn't always consistent.

Nothing is simpler than owning the stock market and holding it forever, and that's essentially the idea behind the index fund.

I love the English language. Words have power.

The stock market is a giant distraction from the business of investing.