Intelligent investors

Intelligent Investors try to separate their emotions of hope, fear, and greed from their trust in reason, and then expect that wisdom will prevail over the long term. Hope, fear, and greed go along with the volatile market of short-term expectations, while trust in reason goes with the real market of long-term intrinsic value. In this sense, long-term investors must be philosophers rather than technicians.

John C. Bogle – American author and founder of The Vanguard Group and the world’s first index mutual fund (1929-2019), Quotations book 2020