Part 7/9:
Bogle places strong emphasis on the essential principle: investing requires commitment, and one should refrain from buying into the latest trends. He stresses the importance of creating a "boring money account,” which should primarily consist of low-cost index funds intended for long-term growth.
Vanguard's Legacy and Future
As Bogle reflects on Vanguard's journey, he expresses hope for its sustainable success. He warns against losing sight of Vanguard's fundamental mission: to serve the investor with transparency and low cost. He voices concern over the potential for conflicts of interest that could disrupt this mission, especially given that many large financial companies are driven by varying fiduciary standards.