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've lost tremendous amounts of money in various markets and I think that that's something that makes you better at my job, not worse.

Whatever money you may need for the next five years, please take it out of the stock market right now, this week.

This is a business, the direct selling, that bizarrely works best when times are bad.

I think that stocks have been this tremendous, tremendous equalizer for people in this country. Guys who can't make a lot of money at their jobs have been able to make a lot of money in the stock market.

There are tons of people who are late to trends by nature and adopt a trend after it's no longer in fashion. They exist in mutual funds. They exist in clothes. They exist in cars. They exist in lifestyles.

These will be fabulous investments and will make millions of more people rich.