John Bogle on Recent Market Volatility
BusinessWeek had a short interview with investing legend John Bogle. As I’ve done before, I’d like to highlight a couple of quotes from the man.
- On whether to get out of the market: “[Y]ou’ve not only got to get out right, you’ve also got to get in right. You must be right twice.”
- On the overuse of credit: “…we have a system where there has been much too much easy credit and aberrant behavior…” and “We know we have a world that operates on credit. Too much credit and too loose credit. So we have a price to pay for getting too irrationally exuberant.”
- On long-term investing: “In the long run, investing is not about markets at all. Investing is about enjoying the returns earned by businesses.”
