Fee Download Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, by John C. Bogle
Invest your time also for simply couple of minutes to read an e-book Common Sense On Mutual Funds: New Imperatives For The Intelligent Investor, By John C. Bogle Checking out an e-book will never ever reduce and lose your time to be pointless. Checking out, for some people end up being a need that is to do on a daily basis such as spending time for eating. Now, what regarding you? Do you like to review an e-book? Now, we will certainly reveal you a brand-new e-book entitled Common Sense On Mutual Funds: New Imperatives For The Intelligent Investor, By John C. Bogle that could be a new means to discover the expertise. When reviewing this publication, you could obtain one point to always keep in mind in every reading time, even detailed.
Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, by John C. Bogle
Fee Download Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, by John C. Bogle
Just for you today! Discover your favourite publication right below by downloading and obtaining the soft data of guide Common Sense On Mutual Funds: New Imperatives For The Intelligent Investor, By John C. Bogle This is not your time to commonly likely to the book stores to buy a book. Right here, varieties of publication Common Sense On Mutual Funds: New Imperatives For The Intelligent Investor, By John C. Bogle as well as collections are offered to download. One of them is this Common Sense On Mutual Funds: New Imperatives For The Intelligent Investor, By John C. Bogle as your favored book. Obtaining this publication Common Sense On Mutual Funds: New Imperatives For The Intelligent Investor, By John C. Bogle by on the internet in this website could be understood now by checking out the link page to download and install. It will be simple. Why should be below?
When getting this publication Common Sense On Mutual Funds: New Imperatives For The Intelligent Investor, By John C. Bogle as referral to check out, you can acquire not simply motivation however also brand-new understanding and also sessions. It has even more compared to typical advantages to take. What kind of book that you read it will be helpful for you? So, why ought to obtain this e-book entitled Common Sense On Mutual Funds: New Imperatives For The Intelligent Investor, By John C. Bogle in this article? As in web link download, you can get the book Common Sense On Mutual Funds: New Imperatives For The Intelligent Investor, By John C. Bogle by on the internet.
When getting guide Common Sense On Mutual Funds: New Imperatives For The Intelligent Investor, By John C. Bogle by on the internet, you can read them any place you are. Yeah, also you are in the train, bus, hesitating list, or other areas, on the internet book Common Sense On Mutual Funds: New Imperatives For The Intelligent Investor, By John C. Bogle could be your good close friend. Every time is a great time to check out. It will enhance your understanding, fun, amusing, driving lesson, and experience without investing even more money. This is why on the internet book Common Sense On Mutual Funds: New Imperatives For The Intelligent Investor, By John C. Bogle becomes most really wanted.
Be the very first that are reading this Common Sense On Mutual Funds: New Imperatives For The Intelligent Investor, By John C. Bogle Based upon some factors, reading this publication will offer more benefits. Also you should read it detailed, web page by web page, you could finish it whenever as well as any place you have time. Again, this on-line publication Common Sense On Mutual Funds: New Imperatives For The Intelligent Investor, By John C. Bogle will certainly offer you easy of checking out time and activity. It also supplies the experience that is inexpensive to reach as well as get significantly for better life.
NATIONAL BESTSELLER!
"Cogent, honest, and hard-hitting-a must read for every investor." -Warren E. Buffett
Praise for Common Sense on Mutual Funds
"Invoking both Thomas Paine and Benjamin Graham, Jack Bogle outlines a supremely logical plan not only to better investors' returns, but to improve the whole fund industry. This isn't just the best book yet by Bogle, it may well be the best book ever on mutual funds." -DON PHILLIPS, President & CEO, Morningstar, Inc.
"Buffett cannot teach you or me how to become a Warren Buffett. Bogle's reasoned precepts can enable a few million of us savers to become in twenty years the envy of our suburban neighbors-while at the same time we have slept well in these eventful times."-PAUL A. SAMUELSON, Massachusetts Institute of Technology Department of Economics
"After a lifetime of picking stocks, I have to admit that Bogle's arguments in favor of the index fund have me thinking of joining him rather than trying to beat him. Bogle's wisdom and his commonsense way of explaining things make this book indispensable reading for anyone trying to figure out how to invest in this crazy stock market."-JAMES J. CRAMER, Money Manager and Senior Columnist for TheStreet.com
"Written in his characteristic forthright and visionary style, Bogle penetrates the myths and jargon to shed a powerful light on the central issues that confront every investor, no matter what their level of experience or sophistication." -MARTIN L. LEIBOWITZ, Vice Chairman and Chief Investment Officer, TIAA-CREF
"Jack Bogle is one of the great pioneer/visionaries of the investment business. In this book, he shares his knowledge, experience, and judgment to enable us to become better investors. The final philosophical chapters provide insights that may help some of us become better people." -BYRON R. WIEN, Chief U.S. Investment Strategist Morgan Stanley Dean Witter
- Sales Rank: #774575 in Books
- Brand: John C. Wiley & Sons
- Published on: 1999-03-18
- Original language: English
- Number of items: 1
- Dimensions: 9.39" h x 1.16" w x 6.22" l, 1.89 pounds
- Binding: Hardcover
- 496 pages
- Great product!
From the Back Cover
Common Sense on Mutual Funds. New Imperatives for the Intelligent Investor Forward by Peter L.Bernstein.
"Other investment executives used to roll their eyes about Vanguard's Bogle, but his rules work."-Newsweek
When Jack Bogle speaks, people listen-whether they are fans or not. As the senior chairman and founder of the Vanguard Group, one of the two largest mutual fund organizations in the world, he has single-handedly transformed the industry by championing better funds at lower costs to the investor. A leading thinker and visionary whose ideas and principles have been adopted by countless investors, his name is as synonymous with excellence in mutual fund investing as Warren Buffett's is with excellence in stock investing. Now, in Common Sense on Mutual Funds, Bogle takes a critical look at the mutual fund industry and how we invest, and charts a compelling course for change.
Written in Bogle's inimitable style, this eye-opening book examines the fundamentals of mutual fund investing alongside industry practices that are often in conflict with a sound long-term investment program. Common Sense on Mutual Funds shows investors how to revolutionize their portfolios by embracing simplicity and then avoiding industry pitfalls. Just as Thomas Paine argued for a new way of thinking about independence in "Common Sense," so Bogle sets forth a new way of looking at mutual funds. He presents a platform for intelligent investing and then uncovers the ills that beset the mutual fund industry, serious ills that thwart our efforts to accumulate adequate financial resources. He analyzes costs, scrutinizes asset size, exposes tax inefficiencies, warns of "empty suit" directors, and reveals the severe conflict between fund principles and fund pro-motion. Emphasizing long-term investing and asset allocation, Bogle finds in simplicity the solution to the riddle of fund selection by investors. From stock and bond funds to global investing and index funds, Common Sense on Mutual Funds provides insight, illumination, and enlightenment.
For more than 30 years, Bogle has championed the rights of the fund shareholder, for he believes that investing is first and last about people's hopes and fears and individual goals. In Common Sense on Mutual Funds, he speaks eloquently about individual investors and how their interests are not being well-served: "The ills and injustices suffered by mutual fund investors are not so dissimilar to those our forebears suffered under English tyranny. . . . I have no quarrel with management companies focusing on profits. But the trade-off between the profits that accrue to fund shareholders and the profits that accrue to the fund management companies seems subject to no independent watchdog, despite the fact that it is the shareholders who actually own the mutual funds."
Organized as a series of essays on the investment issues of the day, this insider's view of the industry makes vital information on mutual funds accessible to experienced investors as well as those just beginning. A veritable treasure chest filled with insight and guidance from a true leader, Common Sense on Mutual Funds is an invaluable addition to every investor's library. Bogle's message, amid the cacophony of investment advice, is clear and simple: common sense will rule the day.
About the Author
John C. Bogle (Philadelphia, PA) is the founder and Senior Chairman of The Vanguard Group, Inc., the largest no-load mutual fund group with over $200 billion in assets and five million shareholders.
From Publishers Weekly
Not that many years ago, an average bookstore might have had two or three books on mutual funds filed away in the business section. Today, as the number of Americans who invest in mutual funds continues to grow, such books take up several aisles in a section of their own. There are guides for data junkies and mathphobes, books that tell how to make a killing and books that tell how to avoid the coming disaster. A few classics stand above the clutter. Bogle on Mutual Funds is one of them. Now the same author has added another. While the first book aimed at educating beginners, the new one seeks to persuade experienced investors to discard received wisdom that isn't so wise after all. While no 450-page work on mutual funds with lots of charts can be considered fun summer reading, the book is always informative and the writing never worse than painless and sometimes quite lively. Bogle speaks with a rare authority. On one hand, he is the founder of Vanguard mutual funds, the second-largest mutual fund company in the world. So he knows the business from the ground up. On the other hand, Vanguard has always been famous for running the lowest-cost mutual funds, funds that eschew loads, engage in sensible strategies and return all profit to the investors. So Bogle is also a leading consumer advocate. That rare combination, mixed with years of serious research and a dash of style, makes Bogle an unparalleled guide to the world of mutual funds. Money Book Club alternate.
Copyright 1999 Reed Business Information, Inc.
Most helpful customer reviews
8 of 9 people found the following review helpful.
Do it yourself, don't hire a financial advisor
By kevin yee
People say that investing is complex and confusing and that you need to hire a financial advisor to help you on investing your money for a comfortable retirement. After reading this book, I found that much of what you hear from the financial industry is wrong and is designed to confuse the retail investor. The truth of the matter is that investing your money is not complex and that you do not need a financial advisor. If you listen and follow the advise from much of the professional investor class about where you should put your money, you would be making them rich at the expense of your savings. John Bogle is doing us retail investor's much needed truth about how to manage your money and has the roadmap and proof to tell us, what most others in the industry has long kept silent and a secret. The truth to investing is that it is not secret, do it yourself, it is not complex, and don't listen to the advise of professional portfolio managers who are out to take your money while pretending to have your back, they don't because it is at their expense. Go with Bogle's folly, read the book, and follow the wisdom in it, and you will do better than 96% of all funds managed by the portfolio managers.
12 of 12 people found the following review helpful.
sometimes simplicity must be exhaustively explained to be believed
By muddy glass
this is *the* book to read on mutual funds. it's a hefty tome coming in at 600+ pages, but fear not. this book does not read like a dry financial report. bogle is opinionated and his writing flourishes with reminders of his personality amidst the endless but important charts and tables. to spice things up, bogle makes references to a wide variety of sources including shakespeare, thomas paine, scripture and even hegel! by the time you're done, you'll know *everything* you've ever wanted to know (and more) about the mutual fund industry, all straight from the founder of the vanguard group himself. for those afraid of the size of this book, perhaps check out bogle's "little book of common sense investing" instead and then come back to this book if you want more details.
bogle's main message is that costs do matter and simplicity is the best way to avoid costs. the recommendation is to buy low cost broad-based index funds that will outperform the vast majority of actively managed mutual funds in the long run. notice by the definition of "average" that the average investor will get average market returns minus fees and taxes. notice the low cost broad-based index fund gets average market returns minus *minimized* fees and taxes. the index investor will thus outperform the average investor in actively managed mutual funds given all the extra costs associated with active management. also notice that the margin of victory from indexing will compound over the years and will lead to an even greater index fund performance in the long run. that's the gist of why indexing works. if you're not convinced, read bogle's book!
even if you've already read some of the other great passive investing books espousing the virtues of indexing, you still owe it to yourself to read at least one of bogle's books. "common sense on mutual funds" is both readable as well as comprehensive, and would be a good addition to your library. burton malkiel, rick ferri, william bernstein, larry swedroe and others have all written excellent books on the subject as well, but they also hold differing opinions on the specifics, so read all of these authors! i was already convinced on indexing after first reading malkiel's book, but continued reading more on passive investing to work out all the details. these books as a whole help reinforce the main ideas while also exposing the reader to the authors' differences in perspectives, thus building confidence in the reader to think and succeed as an independent d.i.y. investor.
of particular interest to me was the issue of small-cap value tilting. i was ambivalent on this practice, but bogle's book convinced me to *not* small-cap value tilt. readers who already know what small-cap value tilting is should feel free to skip to the next paragraph. now, for those unfamiliar with the terminology, stocks are divided according to size (small-cap, mid-cap, large-cap) as well as style (value, blend, growth). the size refers to the company's size as measured by its market capitalization, i.e. the number of shares multiplied by the price per share. the style is another way to partition stocks according to certain numbers such as price/book ratios and dividend yields; there's no agreed upon standard that's universally accepted for what constitutes a value/blend/growth stock. informally, you could think of value stocks as those that are not currently favored by the market for whatever reason. at the opposite extreme, growth stocks are "hot" stocks that scream potential. blend stocks are in between value and growth. given 3 sizes and 3 styles, there are thus 9 size-style combinations. according to research done by professors fama and french, small-cap value stocks significantly outperform the other 8 size-style combinations in the long run. the problem is, small-cap value stocks make up about 3% of the total stock market. small-cap value tilting means overloading on small-cap value stocks to try to capture the bonus identified in the fama/french research, but that also means underweighting 97% of the total market and potentially missing out if the other 8 size-style combinations outperform small-cap value. you see the dilemma.
bogle's repeated message of simplicity, as well as his emphasis on reversion to the mean, ultimately convinced me to resist the temptation of small-cap value tilting. bogle's unwavering conviction in the simple serves as a necessary component in the chorus of voices, helping to guide your investment decisions, even on the more esoteric matters. and although the message of simplicity is easily stated, i am glad bogle wrote a comprehensive text because the details illustrating the majesty of simplicity is what finally settled the small-cap value tilting question for me.
this book's huge size and scope definitely has its drawbacks, not the least of which is the sheer intimidation factor. nevertheless, i believe this book does serve a useful role in the catalog of passive investing, and bogle was the only one who could've written it.
1 of 1 people found the following review helpful.
Essential For Those Who Manage Their Own Funds
By M. Anderson
If you intend on managing your own investments (which I recommend over paying brokers who are essentially commission sales people), this is an essential tool. I bought my first copy about 10 years ago along with several other books. Basically this is the bible for investors who manage their own investments. I believe this is my third purchase of this book with two of them purchased as gifts for family and friends. We have made a lot of money managing our own investments and this book by John Bogle was a big help.
Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, by John C. Bogle PDF
Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, by John C. Bogle EPub
Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, by John C. Bogle Doc
Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, by John C. Bogle iBooks
Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, by John C. Bogle rtf
Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, by John C. Bogle Mobipocket
Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, by John C. Bogle Kindle
No comments:
Post a Comment