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The Infant Learner
Some stuff I read this week:
A. This week’s Special:-
Index Investing , The John C.Bogle Way
John C.Bogle , 87 , is Founder of The Vanguard Group Inc. He created Vanguard in 1974 and served as Chairman and Chief Executive Officer until 1996 and Senior Chairman until 2000. He had been associated with a predecessor company since 1951, immediately following his graduation from Princeton University .
He wrote his Princeton senior thesis in 1951, arguing that mutual funds ” may make no claim to superiority over the market averages”. 65 years later, the Vanguard founder is still being forced to defend his argument – perhaps now more than ever.
When Mr. Bogle started the first index fund in 1976, his goal was capturing the overall market’s return at much lower costs than the stock picking fund managers who so often failed to match it.The wisdom of this passive approach has become so conventional that Vanguard’s assets under management have swollen to $ 3.5 trillion , mostly in index funds.
Recently he was interviewed at Bloomberg. Kindly access to the below links for detailed interview :
B. Entrepreneurial Diary
( “Business means solution of a particular problem and Creating value for customer as well as value for company ” – Paramjeet Redu )
C. Other Stories
Is Value Investing Broken? ( GI )
Don’t-be-a-chicken ( MC )
Life-is-like-a-game-of-darts ( WI )
Investing with the odds ( AI )
Quality Companies, Compounders and Value Traps ( MI )
Identifying Emerging Moats ( SI )
An Investor’s Odyssey : the proponent of “compounding machines” ( VI )
Stock Research : Omkar Speciality Chemicals Ltd ( DL )
Stock-manipulation-Medicamen-biotech ( ML )
The Money Management Gospel of Yale’s Endowment Guru ( NY )
“I read everything: annual reports, 10k’s, 10q’s, biographies, histories, five newspapers a day. On airplanes, I read the instructions on the backs of seats. Reading is key. Reading has made me rich over time” – Warren Buffett
“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you” – Charlie Munger
You have to apply yourself each day to becoming a little better. By applying yourself to the task of becoming a little better each and every day over a period of time, you will become a lot better”- Carol Dweck