After a lifetime of picking stocks, I have to admit that Bogle's arguments in favor of the index fund have me thinking of joining him rather than trying to beat him. Bogle's wisdom and common sense are indispensable... for anyone trying to figure out how to invest in this crazy stock market.

I made a small fortune. I made a lot of money and I made a lot of other people wealthy.

I mean it's the most objective industry in the world. If your numbers stink, you're out. If your numbers are good, you get more money. It's the most Darwinian, it's beautiful, it's brutal, it works.

If you can't find the next McDonald's, I'll find the next McDonald's. But it's vital to be with people who with looking for 'em, because they do exist. They are created.

A good investor in this new world knows to always expect the unexpected.

I don't think that's changed at all. I think there are a thousand stocks out there that could make you rich, totally independent of what you do for a living.

I wish it grew on trees, but it takes hard work to make money.