Quote of the day by John Bogle: “We deceive ourselves when we believe that past stock market return patterns provide the bounds by which we can predict the future”

A timeless reminder from John Bogle warns investors against assuming past market returns can predict the future. While historical trends offer context, shifting economic forces and unexpected shocks make rigid forecasting unreliable. Bogle urges focusing on discipline, costs, allocation and long-term consistency rather than chasing patterns that may never repeat.