During this interview, John Bogle explains why gold and the stock market are driven by speculators and investors should not day trade. He also states that Gold is NOT an investment!
But who is John Bogle? John (aka Saint Jack) Bogle was the founder of the Vanguard group. As of January 2021, it has about $7 trillion in global assets under management. John almost single-handedly developed the market for index funds.
Timestamps:
00:00 Intro
00:11 A distinction between investors and speculators
00:30 try and ignore the noise (volatility / short speculation) of the markets
00:41 the rule in investing is: don't do something, just stand there
00:51 If you are investing for the lifetime (15-20 years) be ready to see ups and downs
01:14 it is a very good bet that stock will do better than bonds over the coming decades
01:26 Gold is not an investment at all: gold is a speculation
02:18 if you are bitten by the gold bug, and you want to speculate...do this
02:36 What About Corporate bonds?
03:06 Look at long-term investing. Avoid short-term speculation: it is a loser's game
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NOTES:
#investing #speculation #gold
- In the interest of time and clarity, the original interview has been edited and made it shorter.
- Source & Credits: CNN Business (2011)