Read John Bogle on Investing: The First 50 Years by John C. Bogle Free Online
Book Title: John Bogle on Investing: The First 50 Years|
The author of the book: John C. Bogle
Date of issue: September 13th 2000
Format files: PDF
The size of the: 15.93 MB
City - Country: No data
Loaded: 1289 times
Reader ratings: 6.3
ISBN 13: 9780071761031
Read full description of the books:
A book full of great information, that is then repeated over and over. The book is actually a collection of speeches the author has given over the years to various networks, commencements, etc. where he talks about his revolutionary idea of index funding. While he provides many facts over the course of the book, most speeches boil down to a few simple things:
-as an aggregate mutual funds do not beat the index
-while individual mutual funds have shown to be able to beat the market in the short term, there is no evidence of repeatability in the long run
-this short coming can be pinned primarily to excessive costs associated with management, marketing, administration, taxes, and transaction fees from high portfolio turnover
-his conclusion is not to beat the market but merely mimic it (via "index funds") and focus on reducing costs
-the additional return of index funds over mutual funds, compounded over many years provides a substantial improvement for your return on investment.
Overall I would not recommended reading this book, even if it does offer sound investment advice. There are other books out there that offer similar advice and much more, in the same number of pages.
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Read information about the authorJohn Clifton "Jack" Bogle (born May 8, 1929) is the founder and retired CEO of The Vanguard Group. He is known for his 1999 book Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, which became a bestseller and is considered a classic.
More on http://en.wikipedia.org/wiki/John_C._...
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