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The threat to a buy-and-hold program is the investor himself. Following his stocks and listening to stories and advice about them can lead to trading actively, producing on average the inferior results about which I’ve warned. Buying an index avoids this trap.
Edward O. Thorp • A Man for All Markets
John Bogle • Enough: True Measures of Money, Business, and Life
In my time as head of Vanguard, none of these standards and values was ever written down in a manual. Rather, I proposed a single overarching but simple rule: “Do what’s right. If you’re not sure, ask your boss.”
John C. Bogle • Enough: True Measures of Money, Business, and Life
As noted earlier, money managers—led by the giant global financial conglomerates that dominate the industry (those conglomerates now own 32 of the 50 largest fund organizations, and another nine firms are publicly owned)—hold as their highest priority the return earned on their own capital, rather than the return earned on the capital they are inve
... See moreJohn C. Bogle • Enough: True Measures of Money, Business, and Life
In 1938, John Burr Williams published a book called The Theory of Investment Value, a seminal articulation of the usefulness
Michael J. Mauboussin • Expectations Investing: Reading Stock Prices for Better Returns, Revised and Updated (Heilbrunn Center for Graham & Dodd Investing Series)
This also means that in addition to investing in a large number of companies, it is a good idea to spread those investments evenly over a long period of time.