John Bogle on Investing

Get fifty years of industry-defining expertise in a single volumeJohn Bogle on Investing is a compilation of the best speeches ever delivered by one of the 20th century's towering financial giants. Individually, each of these speeches delivers a powerful lesson in investing; taken together, Bogle's lifelong themes ring loud and clear. His investing philosophy has remained more or less constant throughout his illustrious career, and this book lays it out so you can learn from the very best. You'll learn what makes a successful investment strategy, consider the productive economics of long-term investing, and how emotional investment in financial markets is often counterproductive enough to forfeit success. Bogle discusses the "fiscal drag" of investing, and shows you how to cut down on sales charges, management fees, turnover costs, and opportunity costs, as he unravels a lifetime's worth of expertise to give you deep insight into the mind of a master at work.John C. Bogle founded Vanguard in 1974, then in the space of a few years, introduced the index mutual fund, pioneered the no-load mutual fund, and redefined bond fund management. This book wraps up the essence of his half-century of knowledge to deepen your understanding and enhance your investment success.* Learn why simple strategies are best* Discover how emotions can ruin the best investment plan* Examine the universality of indexing in the financial markets* Minimize the costs -- financial and otherwise -- associated with investingJohn Bogle is still in there fighting, still pushing the industry onward and upward. Take this rare opportunity to have industry-shaping expertise at your fingertips with John Bogle on Investing.

2015 Introduction To The Classic Edition of John Bogle On Investing: The First 50 Years ixForeword: Paul A. Volcker xxixIntroduction: William T. Allen xxxiPreface xxxvSome Words of Appreciation xliiiPart I Investment Strategies For The Intelligent Investor1 Investing in the New Millennium: The Bagel and the Doughnut 52 The Clash of the Cultures in Investing: Complexity vs. Simplicity 173 Equity Fund Selection: The Needle or the Haystack? 334 Risk and Risk Control in an Era of Confidence (or Is It Greed?) 475 Buy Stocks? No Way! 666 The Death Rattle of Indexing 827 25 Years of Indexing: When Active Managers Win, Who Loses? 988 Selecting Equity Mutual Funds 1089 The Third Mutual Fund Industry 122Part II Taking On The Mutual Fund Industry10 Mutual Funds: The Paradox of Light and Darkness 14111 Economics 101: For Mutual Fund Investors . . .For Mutual Fund Managers 15312 Honing the Competitive Edge in Mutual Funds 16813 Creating Shareholder Value: BY Mutual Funds . . .or FOR Mutual Fund Shareholders? 18014 The Silence of the Funds: Mutual Fund Investment Policies and Corporate Governance 19615 Losing Our Way: Where Are the Independent Directors? 208Part III Economics and Idealism: The Vanguard Experiment16 Vanguard--Child of Fortune 22117 The Winds of Change: The Vanguard Experiment in Internalized Management 23118 Deliverance 24619 The Lengthened Shadow, Economics, and Idealism 26020 On the Right Side of History 270Part IV Personal Perspectives21 Changing the Mutual Fund Industry: The Hedgehog and the Fox 29122 The Majesty of Simplicity 30723 The Things by Which One Measures One's Life 31224 Telltale Hearts 31625 Press On Regardless 327Part V The Princeton ThesisThe Economic Role of the Investment Company 341Index 451