Don’t Count on It!: Reflections on Investment Illusions, Capitalism, “Mutual” Funds, Indexing, Entrepreneurship, Idealism, and Heroes

Q&A with Author John C. Bogle In Don’t Count on It, you discuss how we deceive ourselves, particularly with numbers. Can you describe what you consider to be the absolute worst illusion investors fall prey to?
The most damaging illusion for investors is their belief that they capture the stock market’s return. For example, if the stock market provides an annual return of 7%, we know that the average investor‘s return will fall short of that by the amount of fees they pay. T

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