The life of John Bogle as told in his book Stay the Course: The Story of Vanguard and the Index Revolution.
Topics discussed in this podcast:
This is a story of a revolution (0:01), what Vanguard does and why? (7:00), the seed of the idea that eventually becomes Vanguard (10:00), switching from conservative investing to speculation / when humans are scared they copy the behavior of those around them (17:00), John gets fired. He decides to fight back. (31:00), if you know why you are doing what you are doing you are less likely to quit (41:00), staying the course gives you a massive advantage because most humans quit (53:00), We must never underrate the power of compounding investment returns, and always avoid the tyranny of compounding investment costs.– John Bogle (59:00), eliminating the 50-year tradition of sales commission (1:01:00), a failure caused by focusing on competition and not learning from the past (1:06:00), the Founders Mentality (1:07:30), personal reflections and a memoir of sorts (1:11:00).
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