#58 John Bogle: Enough: True Measures of Money, Business, and Life
Founders
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The Importance of Trust in Business
He says the idea was simple why should our mutual funds retain an outside company to manage their affairs when they could manage themselves and save a small fortune in fees. The estimate is about he saved his customers about 217 billion almost a quarter trillion in fees just by this very simple idea applied doggedly over a very long time period. He's gonna quote Socrates here I honor and love you but why do you who are citizens of this great and mighty nation care so much about laying up the greatest amount of money and honor and reputation and so little about wisdom and truth and the greatest improvement of the soul? John has like Socrates arrived at some strong opinions on money on what we should be proud of and ashamed
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