The twelve pillars of wisdom, which John Bogle first laid out in his book, Bogle on Mutual Funds, and which he revisits at length in his remarks at The Arizona Republic Investment Strategies Forum, Phoenix, Arizona, April 27, 2001:
Pillar 1. Investing Is Not Nearly as Difficult as It Looks
Pillar 2. When All Else Fails, Fall Back on Simplicity
Pillar 3. Time Marches On
Pillar 4. Nothing Ventured, Nothing Gained
Pillar 5. Diversify, Diversify, Diversify
Pillar 6. The Eternal Triangle
Pillar 7. The Powerful Magnetism of the Mean
Pillar 8. Do Not Overestimate Your Ability to Pick Superior Equity Mutual Funds, nor Underestimate Your Ability to Pick Superior Bond and Money Market Funds
Pillar 9. You May Have a Stable Principal Value or a Stable Income Stream, But You May Not Have Both
Pillar 10. Beware of "Fighting the Last War"
Pillar 11. You Rarely, If Ever, Know Something The Market Does Not
Pillar 12. Think Long-Term
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