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Vanguard’s Principles for Investing Success

I really liked this white paper from Vanguard.  It’s fairly basic, but it applies whether you’re a highly sophisticated trader or a more “passive” investor.  The core of the philosophy:

  1. Goals
  2. Balance
  3. Cost
  4. Discipline

These factors always matter.  Having a structured set of goals helps define your process.  Balance helps to diversify your ignorance.  Costs will always eat into returns.  And discipline is the ability to follow through with your process.

Read the full paper here.

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