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Think like an owner from "summary" of The Little Book of Common Sense Investing by John C. Bogle
To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. But maintaining that discipline is not easy. The primary reason so few investors own index funds is that they are too simple. When I was a young man - in the early years of Vanguard's flagship fund - I urged investors to adopt a "owner-orientation." In the end, it's your money, your future, your retirement account. If your financial advisor makes a mistake, you pay. So why not take control of your future? To think like an owner is to realize the importance of the cost factor in investing. Costs matter. Whether you're buying a car or selecting an investment strategy, the costs you incur can make an enormous difference in your ultimate returns. Why should investm...
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