Bogle: On classics, speculation, and ownership society
A recent interview with John Bogle shows why he is a big fan of classic literature and what today’s investors/speculators can learn from those texts.
What makes a study of history and the Classics so important for business?“It involves critical thinking,” Bogle explained. “It involves some kind of perspective, it involves some ability to think ‘you know, this has happened before and it could be happening again now.’ It would certainly shun the argument that this time is different when the stock market goes to an all-time high. And, as Einstein said, ‘there are some things that count that can’t be counted, and there are things that can be counted that don’t count.’ There’s a lot of terrific stuff out there that gives you an understanding of the broad world in which we live, rather than the very narrow world in which we play our games.