Founders
Episode 58 #58 John Bogle: Enough: True Measures of Money, Business, and Life
Founders

Episode 58: #58 John Bogle: Enough: True Measures of Money, Business, and Life

Founders

Episode 58

#58 John Bogle: Enough: True Measures of Money, Business, and Life

David Senra is the host of Founders, where he studies history's greatest entrepreneurs. This is what he learned from reading Enough: True Measures of Money, Business, and Life by John Bogle.

What I learned from reading Enough: True Measures of Money, Business, and Life by John Bogle 

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Gentlemen, cut your costs. [4:00]

the benefits of being forced to work early on in life [7:00]

I'll never forget the inspiration when I read this quote: The force of his mind overcame his every impediment. [9:30]

the traits he needed to found Vanguard [12:00] 

what John thinks we should be doing better [13:30]

create things that help other people/Charlie Munger [17:30]

When a business fails people want to know their revenue. I want to know their costs [19:30]

the past is not a prologue in the financial markets... please, please, please don't count on it. [23:00]

Einstein well understood the limits of quantification / the way we act and the way we measure are in conflict [26:00]

Show me the incentive and I will show you the outcome. –Charlie Munger / If you get the incentives right when you start the company you will grow. [35:00]

A rule of life: Press On, Regardless [39:00]

10 reasons why I bother to battle [44:00]

I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth

Be like Gareth. Buy a book: All the books featured on Founders Podcast

#58 John Bogle: Enough: True Measures of Money, Business, and Life

Introduction

True story, Word of Honor, Joseph Heller, an important and funny writer, now dead, and I were at a party given by a billionaire on Shelter Island. I said, Joe, how does it make you feel to know that our host only yesterday may have made more money than your novel Catch-22 has earned in its entire history. And Joe said, I've got something he can never have. And I said, "What on earth could that be, Joe? And Joe said the knowledge that I've got enough. Not bad. Rest in peace.

So that was a poem published in 2005 in New Yorker by the writer Kurt Vonnegut, that John Bogle read and 2 years later used for the basis of his commencement address that he gave to Georgetown. And then 2 years after that, used as the basis for the book that I am holding in my hand and the one that I want to talk to you about today, which is, Enough: True Measures of Money, Business, and Life by John Bogle, the founder of Vanguard.

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