Danny ChaiI’ve mentioned this before but I’m a huge John Bogle fan. I read one of his books on investing and as far as I’m concerned, it’s all I need to know. Anyway, he recently made a speech on reversion to the mean that I highly recommend. The financial advice is valuable enough. But again, I’m pretty sure he’s Christian, by the small remarks he makes. Let me quote one section:
In a temporal sense, the all-market portfolio is consistent with the spiritual argument about the existence of God put forth by Pascal three centuries ago. If you bet God is, you live a moral life at puny cost of giving up a few temptations. But that’s all you lose. If you bet God is not and give in to all your temptations, you’re forever damned. Consequences, Pascal concluded, must outweigh possibilities. Similarly in the stock market, if you bet the market is efficient and hold the market portfolio, you’ll earn the market’s return. But if you bet against it and are wrong, the consequences could be painful. Why would you run the risk of losing, perhaps badly, when the market return, earned by so few over the long-run, is there for the taking?
I’m not sure if he really finds Pascal’s argument a compelling one as far as faith is concerned, but it’s nevertheless interesting that he includes it. It just reveals that matters of faith is a part of his thought. Anyway yeah, I’m a big fan.