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.

But be very, very careful, because when you're playing with momentum, you're playing with fire.

Microsoft was not a mysterious, strange entity. You put your PC on and there's an ad for them.

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

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

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.

I think that I could have been take apart if the bear market continued, but I waited three years before I felt the bear market was over and I was right.