Words to Remember
Fees And Feelings Can Steal Your Returns 🧠
“The greatest enemies of the equity investor are expenses and emotions.”
Why we ran it
Stocks had their worst day since April 2025 on Wednesday and ripped back Thursday, Microsoft posted the largest single-day gain in market history, and three Fed officials broke ranks to vote for a hike. A week like that is built to make you trade. Bogle's line names the two things trading costs.
From the July 31, 2026 issue: A Tug Of War At The Fed →