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

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The Importance of Staying the Course

The CEO of Vanguard, John Paulson, said in his book that you have to eliminate the noise and just focus on the signal. If he is mathematically certain that if he lowers the costs, and I think they decrease their costs by the time he retired as CEO, like 200 times, and never increase them, that will give you the best returns. He's talking about this all the way back in 1965. But for some reason, really hard for us as a species to adhere to.

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