--- title: "Meaning & Key Takeaway of: Yes, the investor is often his own worst…" description: "\"Yes, the investor is often his own worst enemy. Yes, the marketing colossus known as the mutual fund industry provides the weaponry which enables inves..." image: "https://sms4smile.com/quotes/i/4c4/john-c-bogle-2199_bystanders_yes-the-investor-is-often-his-own-worst_1155477.jpg" --- # Yes, the investor is often his own worst enemy. Yes, the… ![“Yes, the investor is often his own worst enemy. Yes, the marketing colossus known as the mutual fund industry provides the weaponry which enables investors to indulge their suicidal instincts. No, the fund industry was hardly an innocent bystander in the market boom and the subsequent carnage. "We…” quote by John C. Bogle](https://sms4smile.com/quotes/i/4c4/john-c-bogle-2199_bystanders_yes-the-investor-is-often-his-own-worst_1155477.jpg) [Download](https://sms4smile.com/quotes/i/4c4/john-c-bogle-2199_bystanders_yes-the-investor-is-often-his-own-worst_1155477.jpg) [Open image](https://sms4smile.com/quotes/i/4c4/john-c-bogle-2199_bystanders_yes-the-investor-is-often-his-own-worst_1155477.jpg) > “Yes, the investor is often his own worst enemy. Yes, the marketing colossus known as the mutual fund industry provides the weaponry which enables investors to indulge their suicidal instincts. No, the fund industry was hardly an innocent bystander in the market boom and the subsequent carnage. "We have met the enemy and he is us"... all of us.” [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Investors often sabotage themselves; mutual fund industry supplies tools that enable self‑destructive behavior, making investors part of the problem. **In simple terms:** Investors are their own worst enemy due to industry tools. Key Takeaway Recognize and guard against self‑defeating investment habits. Themes finance behavioral economics investment risk industry ethics Mood cautious critical analytical Type philosophical inspirational When to use this quote - personal portfolio reviews - financial education workshops - regulatory reforms Key Concepts self‑sabotage conflict of interest market cycles Questions to Reflect On - What steps can you take to protect yourself from harmful market incentives? - How can the industry be held accountable? A Different Perspective Not all investors have equal access to resources to avoid these pitfalls. ★ ★ ★ ★ ★ No ratings yet [Bystanders](https://sms4smile.com/quotes/about/bystanders/) [Colossus](https://sms4smile.com/quotes/about/colossus/) [Customer](https://sms4smile.com/quotes/about/customer/) [Enemy](https://sms4smile.com/quotes/about/enemy/) [Industry](https://sms4smile.com/quotes/about/industry/) [Instinct](https://sms4smile.com/quotes/about/instinct/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investor](https://sms4smile.com/quotes/about/investor/) [Investors](https://sms4smile.com/quotes/about/investors/) [Marketing](https://sms4smile.com/quotes/about/marketing/) [Mutual fund](https://sms4smile.com/quotes/about/mutual-fund/) [Weaponry](https://sms4smile.com/quotes/about/weaponry/) [Worst enemy](https://sms4smile.com/quotes/about/worst-enemy/) ## Related quotes > [I believe that the mutual fund industry's biggest shortcoming is too much focus on the momentary price of a stock - an illusion -…](https://sms4smile.com/quotes/john-c-bogle/i-believe-that-the-mutual-fund-industry-s-biggest-shortcoming-is-too/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [Among my greatest disappointments about the mutual fund industry - in addition to excessive costs and excessive focus on the short-term - is that…](https://sms4smile.com/quotes/john-c-bogle/among-my-greatest-disappointments-about-the-mutual-fund-industry-in/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [The culture of the mutual fund industry, when I came into it in 1951, was pretty much a culture of fiduciary duty and investment,…](https://sms4smile.com/quotes/john-c-bogle/the-culture-of-the-mutual-fund-industry-when-i-came-into-it-in-1951/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [We need a mutual fund industry with both vision and values; a vision of fiduciary duty and shareholder service, and values rooted in the…](https://sms4smile.com/quotes/john-c-bogle/we-need-a-mutual-fund-industry-with-both-vision-and-values-a-vision/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [The mutual fund industry has been built, in a sense, on witchcraft.](https://sms4smile.com/quotes/john-c-bogle/the-mutual-fund-industry-has-been-built-in-a-sense-on-witchcraft/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [I think the hedge-fund industry has taken a reputational turn for the worse, this dog-eat-dog stuff. I'm not just talking about Herbalife or J.…](https://sms4smile.com/quotes/bill-ackman/i-think-the-hedge-fund-industry-has-taken-a-reputational-turn-for-the/) [Bill Ackman](https://sms4smile.com/quotes/author/bill-ackman/) > [I think there are probably too many hedge fund managers in the world, as well as active fund managers. The hedge fund industry is…](https://sms4smile.com/quotes/martin-gilbert/i-think-there-are-probably-too-many-hedge-fund-managers-in-the-world/) [Martin Gilbert](https://sms4smile.com/quotes/author/martin-gilbert/) > [Invest in low-turnover, passively managed index funds... and stay away from profit-driven investment management organizations... The mutual fund industry is a colossal failure... resulting…](https://sms4smile.com/quotes/david-f-swensen/invest-in-low-turnover-passively-managed-index-funds-and-stay-away/) [David F. Swensen](https://sms4smile.com/quotes/author/david-f-swensen/) > [Santa Claus and the Easter Bunny should take a few pointers from the mutual-fund industry. All three are trying to pull off elaborate hoaxes.…](https://sms4smile.com/quotes/jonathan-clements/santa-claus-and-the-easter-bunny-should-take-a-few-pointers-from-the/) [Jonathan Clements](https://sms4smile.com/quotes/author/jonathan-clements/) > [There's accountability in the mutual fund industry. And they've been tremendous engines of wealth for people and they're going to continue to be so.](https://sms4smile.com/quotes/jim-cramer/there-s-accountability-in-the-mutual-fund-industry-and-they-ve-been/) [Jim Cramer](https://sms4smile.com/quotes/author/jim-cramer/) > [The mutual fund industry provided the money for Intel and Motorola and Hewlett-Packard to crush the competitors.](https://sms4smile.com/quotes/jim-cramer/the-mutual-fund-industry-provided-the-money-for-intel-and-motorola/) [Jim Cramer](https://sms4smile.com/quotes/author/jim-cramer/) > [Resolve to serve no more, and you are at once freed. I do not ask that you place hands upon the tyrant to topple…](https://sms4smile.com/quotes/etienne-de-la-boetie/resolve-to-serve-no-more-and-you-are-at-once-freed-i-do-not-ask-that/) [Etienne de La Boetie](https://sms4smile.com/quotes/author/etienne-de-la-boetie/) > [I really like 'ICO' and 'Shadow of the Colossus.'](https://sms4smile.com/quotes/jenova-chen/i-really-like-ico-and-shadow-of-the-colossus/) [Jenova Chen](https://sms4smile.com/quotes/author/jenova-chen/) > [“Why, man, he doth bestride the narrow world Like a Colossus; and we petty men Walk under his huge legs, and peep about To…](https://sms4smile.com/quotes/william-shakespeare/why-man-he-doth-bestride-the-narrow-world-like-a-colossus-and-we/) [William Shakespeare](https://sms4smile.com/quotes/author/william-shakespeare/) > [Blackbeard was larger than life. He was 6'4" in 1710. He was a colossus, and like a rock star walking into a bar. He…](https://sms4smile.com/quotes/ray-stevenson/blackbeard-was-larger-than-life-he-was-6-4-in-1710-he-was-a-colossus/) [Ray Stevenson](https://sms4smile.com/quotes/author/ray-stevenson/) ## More by John C. Bogle > [The basic idea of retirement income is, to me, to get a check, two checks every month, one from your fixed income and one…](https://sms4smile.com/quotes/john-c-bogle/the-basic-idea-of-retirement-income-is-to-me-to-get-a-check-two/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [When you're young, you've got plenty of time to recover from your mistakes.](https://sms4smile.com/quotes/john-c-bogle/when-you-re-young-you-ve-got-plenty-of-time-to-recover-from-your/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [I almost hate to say how proud I am of my career and, most of all, helping folks get the returns they deserve.](https://sms4smile.com/quotes/john-c-bogle/i-almost-hate-to-say-how-proud-i-am-of-my-career-and-most-of-all/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [The Vanguard Experiment was designed to prove that mutual funds could operate independently, and do so in a manner that would directly benefit their…](https://sms4smile.com/quotes/john-c-bogle/the-vanguard-experiment-was-designed-to-prove-that-mutual-funds-could/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [“An investment in knowledge always pays the best interest. Learning is to the Studious, and Riches to the Careful. If a man empties his…](https://sms4smile.com/quotes/john-c-bogle/an-investment-in-knowledge-always-pays-the-best-interest-learning-is/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [I liked the so-called Volcker Rule. I would have separated investment banking and commercial, deposit banking, as we did under the Glass-Steagal Act. I…](https://sms4smile.com/quotes/john-c-bogle/i-liked-the-so-called-volcker-rule-i-would-have-separated-investment/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [We make too much out of past performance, and it's very misleading to investors. It causes them to move money around. They buy a…](https://sms4smile.com/quotes/john-c-bogle/we-make-too-much-out-of-past-performance-and-it-s-very-misleading-to/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [It's very difficult for any particular segment of the stock market to sustain superior performance. The watch word for our financial markets is, "reversion…](https://sms4smile.com/quotes/john-c-bogle/it-s-very-difficult-for-any-particular-segment-of-the-stock-market-to/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [I do think that impact investing is not that effective. Shares go from investor A to investor B, and the company doesn't even know…](https://sms4smile.com/quotes/john-c-bogle/i-do-think-that-impact-investing-is-not-that-effective-shares-go-from/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [I was born in an earlier generation and, as a group, my classmates at Blair Academy and Princeton University were as ethical, straightforward, and…](https://sms4smile.com/quotes/john-c-bogle/i-was-born-in-an-earlier-generation-and-as-a-group-my-classmates-at/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [My only regret about money is that I don't have more to give away.](https://sms4smile.com/quotes/john-c-bogle/my-only-regret-about-money-is-that-i-don-t-have-more-to-give-away/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [U.S. companies are innovative and entrepreneurial.](https://sms4smile.com/quotes/john-c-bogle/u-s-companies-are-innovative-and-entrepreneurial/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [Successful investing is about owning businesses and reaping the huge rewards provided by the dividends and earnings growth of our nation's - and, for…](https://sms4smile.com/quotes/john-c-bogle/successful-investing-is-about-owning-businesses-and-reaping-the-huge/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [Without getting into brothels, there are ethical capitalists the problem is that there aren't enough of them. It is not "just a few bad…](https://sms4smile.com/quotes/john-c-bogle/without-getting-into-brothels-there-are-ethical-capitalists-the/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) > [The average hedge fund manager is going to earn zero per cent in extra return.](https://sms4smile.com/quotes/john-c-bogle/the-average-hedge-fund-manager-is-going-to-earn-zero-per-cent-in/) [John C. Bogle](https://sms4smile.com/quotes/author/john-c-bogle/) [Explore all 179 John C. Bogle quotes ](https://sms4smile.com/quotes/author/john-c-bogle/) ## More Bystanders quotes > [Bring the viewer to your side, include him in your thought. He is not a bystander. You have the power to increase his perceptions…](https://sms4smile.com/quotes/dorothea-lange/bring-the-viewer-to-your-side-include-him-in-your-thought-he-is-not-a/) [Dorothea Lange](https://sms4smile.com/quotes/author/dorothea-lange/) > [New York is a wonderful place to shoot. The bystanders are great. They are enthusiastic. They respect the process, and you get the energy…](https://sms4smile.com/quotes/jane-curtin/new-york-is-a-wonderful-place-to-shoot-the-bystanders-are-great-they/) [Jane Curtin](https://sms4smile.com/quotes/author/jane-curtin/) > [Now that I think about it, maybe he is a werewolf. I can picture him lunging over the moors in hot pursuit of his…](https://sms4smile.com/quotes/mary-ann-shaffer/now-that-i-think-about-it-maybe-he-is-a-werewolf-i-can-picture-him/) [Mary Ann Shaffer](https://sms4smile.com/quotes/author/mary-ann-shaffer/) > [One only wishes Wayne LaPierre and his NRA board of directors could be drafted to some of these scenes, where they would be required…](https://sms4smile.com/quotes/stephen-king/one-only-wishes-wayne-lapierre-and-his-nra-board-of-directors-could/) [Stephen King](https://sms4smile.com/quotes/author/stephen-king/) > [“It is from the bystanders (who are in the vast majority) that we receive the propaganda that life is not worth living, that life…](https://sms4smile.com/quotes/hunter-s-thompson/it-is-from-the-bystanders-who-are-in-the-vast-majority-that-we/) [Hunter S. Thompson](https://sms4smile.com/quotes/author/hunter-s-thompson/) > [The proponents of UFOs offer up impressive quantities of principally eyewitness data, which although largely subjective and circumstantial in nature, is nevertheless quite intriguing……](https://sms4smile.com/quotes/peter-davenport/the-proponents-of-ufos-offer-up-impressive-quantities-of-principally/) Peter Davenport > [The future is in our hands. We are not hapless bystanders. We can influence whether we have a planet of peace, social justice, equity,…](https://sms4smile.com/quotes/james-wolfensohn/the-future-is-in-our-hands-we-are-not-hapless-bystanders-we-can/) [James Wolfensohn](https://sms4smile.com/quotes/author/james-wolfensohn/) > [Why not allow patrons to comment on directors' decisions, vote on costume design, listen to dancers' conversations, volunteer to help out in ways beyond…](https://sms4smile.com/quotes/anonymous/why-not-allow-patrons-to-comment-on-directors-decisions-vote-on/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [History is said to be written by the victors. Fiction, by contrast, is largely the work of injured bystanders.](https://sms4smile.com/quotes/edna-o-brien/history-is-said-to-be-written-by-the-victors-fiction-by-contrast-is/) [Edna O'Brien](https://sms4smile.com/quotes/author/edna-o-brien/) > [I've never had Internet access. Actually, I have looked at things on other people's computers as a bystander. A few times in my life…](https://sms4smile.com/quotes/jhumpa-lahiri/i-ve-never-had-internet-access-actually-i-have-looked-at-things-on/) [Jhumpa Lahiri](https://sms4smile.com/quotes/author/jhumpa-lahiri/) > [I'm just a friendly bystander who they occasionally ask questions of. That's my level of involvement.](https://sms4smile.com/quotes/alice-sebold/i-m-just-a-friendly-bystander-who-they-occasionally-ask-questions-of/) [Alice Sebold](https://sms4smile.com/quotes/author/alice-sebold/) > [“A person seldom falls sick, but the bystanders are animated with a faint hope that he will die.”](https://sms4smile.com/quotes/ralph-waldo-emerson/a-person-seldom-falls-sick-but-the-bystanders-are-animated-with-a/) [Ralph Waldo Emerson](https://sms4smile.com/quotes/author/ralph-waldo-emerson/) > [We had and incident. I took care of it." "Really." Jace's voice dripped sarcasm. "Do you even know how to use that knife, Clarissa?…](https://sms4smile.com/quotes/cassandra-clare/we-had-and-incident-i-took-care-of-it-really-jace-s-voice-dripped/) [Cassandra Clare](https://sms4smile.com/quotes/author/cassandra-clare/) > [Bystanders wandered in and out of the merchant's stall, passing the time, talking of dreams they might purchase. Workers and slaves stooped from labor…](https://sms4smile.com/quotes/david-berlinski/bystanders-wandered-in-and-out-of-the-merchant-s-stall-passing-the/) [David Berlinski](https://sms4smile.com/quotes/author/david-berlinski/) > [She missed the built environment of New York City. It was only in an urban landscape, amid straight lines and architecture, that she could…](https://sms4smile.com/quotes/ruth-ozeki/she-missed-the-built-environment-of-new-york-city-it-was-only-in-an/) [Ruth Ozeki](https://sms4smile.com/quotes/author/ruth-ozeki/) [Browse all 90 Bystanders quotes ](https://sms4smile.com/quotes/about/bystanders/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Yes, the investor is often his own worst enemy. Yes, the marketing colossus known as the mutual fund industry provides the weaponry which enables investors to indulge their suicidal instincts. No, the fund industry was hardly an innocent bystander in the market boom and the subsequent carnage. \"We have met the enemy and he is us\"... all of us.", "creator": { "@type": "Person", "name": "John C. 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