Leeor Geva, BS CS, MBA
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Video notes 1 on: Jack Bogle on Index Funds, Vanguard, and Investing Advice. - Motley Fool

1/2/2021

 
Entire video from the beginning:

Time Stamp: 02:40
​Notes: Vanguard is not a public company.  It has no one to serve but the shareholders (account holders).
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Time Stamp: 03:30
​Notes: Adam Smith - the sole role of the producer is to serve the consumer.  Capitalism: the incentive to get rich.
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Time Stamp: 06:35
​Notes: Consequence of 1-2% fees
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Time Stamp: 09:00
​Notes: Bogle rule: Age = Bond position.  He explains he doesn't follow it.  Always better to have a high percentage (or 100%) in stocks.  If can't stomach to drops (don't peak at your statement!), the bond position is to lessen the drops.  (Yet overtime a 100% position in stocks yields the highest returns).
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Time Stamp: 10:20
​Notes: Social Security has a capitalized value.
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Time Stamp: 17:10
​Notes: Buffet & Motley Fool - If never recommended a sale of a stock, would be better off in the long run.  No matter what happens in the world, never sell, always buy.
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Time Stamp: 22:00
​Notes: Jack investments for his grandkids set at 60% stocks (VTSAX), 40% bonds (Total Bond Market).  Side note - Bogle in other videos mentions to use Short to Intermediate Municipal Bond Funds for Taxable accounts.
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Time Stamp: 23:00
​Notes: What is risk?  It is not volatility.
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Time Stamp: 26:05
​Notes: INVEST, YOU MUST.  Cash won't get you returns.  You can worry about extreme risks such as nuclear war, but at that point your cash won't matter.  So instead of worrying, invest.
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Time Stamp: 27:05
​Notes: In the short term the stock market is a casino.  In the long term it is not.  It is a machine for compounding interest & returns, which as Einstein said, is the greatest miracle in financial history."
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Time Stamp: 27:40
​Notes: Why the stock market works: Corporations serving consumers, serving corporations, serving government, will make money, innovate, become more efficient, entrepreneurship, technology, etc. creates the market.
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Time Stamp: 29:40
​Notes: About financial advisors:  If you want a friend, get a dog.  The more they trade, the less well you do.  Activity is the curse of Wall Street.  31:00 - Love Frank, buy him a drink, tell Frank a joke.  Investing is a long term thing that doesn't involve any trading what so ever. 
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Time Stamp: 33:20
​Notes: We have enough.  You can't take the money with you.  His wife is not a spendthrift.  Basically, enjoy your money while you're alive.
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Time Stamp: 35:20
​Notes: Mutual nature of Vanguard.  Total money generated for shareholders, highest than any other company.
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Time Stamp: 37:50
​Notes: Roboadvisors: Betterment & Wealthfront.  Calls them silly.  They just put a cloak of complexity over simplicity. You can do it on your own.
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Time Stamp: 41:00
​Notes: At a Boglehead meeting: "How many of you have advisors?"  No one raised their hand.
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Time Stamp: 42:40
​Notes: Best way to win is to own everything and HOLD ON.
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Time Stamp: 45:57
​Notes: Don't peek ... keep investing!
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    Author

    This is NOT official financial advice.  It is just my notes on Jack Bogle and Bogleism, the practice of using total market index funds in equity and bond investments.

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