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Founders: #57 John Bogle: Stay the Course: The Story of Vanguard and the Index Revolution

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What I learned from reading Stay the Course: The Story of Vanguard and the Index Revolution. ---- 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] ---- Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ---- “I have

[00:00:00] This book tells the story of how my career began, how it was abruptly cut short, and what followed once I resumed that career. It is a story of creativity and innovation, of victory and defeat, of laughter and tears, of pure coincidence and sheer luck, of commitment to high values, of determination, of stubbornness, and of cussedness, all in the name of serving investors, small as well as large, simply by giving thrifty human beings their fair share of whatever returns the financial markets bestow to our investments. It is also the story of a revolution. No, there are no Molotov…

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