Common Sense Investing - John C Bogle

Here are some quotes from the book:

Over time, the aggregate gains made by shareholders must of necessity match the business gains of the company.

It is dangerious ... to apply to the future inductive arguments based on past experience.

Accurately forecasting swings in investor emotions is not possible. But forecasting the long-term economics of investing carries remarkably high odds of success.

The stock market is a giant distraction.

When there are multiple solutions to a problem, choose the simplest one.

The record of the first index mutual funds: $15,000 invested in 1976; value in 2006, $461,771.

It's amazing how difficult it is for a man to understand something if he's paid a small fortune not to understand it.

$10,000 grows to $469,000 ... or $145,400. Where did that $323,600 go?

The miracle of compounding returns is overwhelmedby the tyranny of compounding costs.

Inflamed by heady optimism and greed, and enticed by the wiles of mutual fund marketeers, investors poured their savings into equity fund as the bull market peaks.

When ever-counterproductive investor emotions are played on by ever-counterproductive fund industry promtions, little good is apt to result.