Editorial Reviews. hentamanqueto.ml Review. Invoking the words and spirit of Thomas Paine, Common Sense on Mutual Funds - Kindle edition by John C. Bogle, David F. Swensen. Download it once and read it on your Kindle device, PC, phones. your fair share of stock market returns / John C. Bogle. p. cm. ISBN (cloth). ISBN (cloth). 1. Index mutual funds. I. Title. Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor John Bogle is one of the founding fathers of the US mutual.
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Common Sense on Mutual Funds: Fully Updated 10th Anniversary Edition Written by respected mutual fund industry legend John C. Bogle Discusses the. John C. Bogle shares his extensive insights on investing inmutual funds Since the first edition of Common Sense on Mutual Fundswas published in , Common Sense on Mutual Funds, Updated 10th Anniversary Edition (eBook, PDF). Download as TXT, PDF, TXT or read online from Scribd. Flag for Common Sense On Mutual Funds John Bogle () Bogle, founder of the Vanguard Group.
Enabled Lending: Enabled Enhanced Typesetting: Enabled site Best Sellers Rank: John C. Bogle shares his extensive insights on investing in mutual funds Since the first edition of Common Sense on Mutual Funds was published in , much has changed, and no one is more aware of this than mutual fund pioneer John Bogle.
Written by respected mutual fund industry legend John C. Bogle Discusses the timeless fundamentals of investing that apply in any type of market Reflects on the structural and regulatory changes in the mutual fund industry Other titles by Bogle: Read more Read less.
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Before digging into the book itself, it is important to recognize the work of John C. Bogle in the financial services industry. As briefly highlighted in the book, Bogle started the Vanguard investment fund to test a thesis put out by a prominent researcher on the merits of "indexing". He created the fund on the idea that investors shouldn't have to pay exorbitant management fees or transaction fees when putting their money away in a fund.
That said, I cannot give this book a 5 star rating because in my eyes, it spends far too long discussing a far too simple premise. The premise is straightforward and can be gleamed from the first few pages of reading. If you are convinced of this line of reasoning already, this book may not be worth reading cover to cover.
Bogle does state near the beginning of the book, "My goal has been to make each chapter a freestanding and indepedent essay on a particular issue". In my opinion, this book is an essential "manual" for personal investment strategy, but does not suffice for a casual weekend read. The text ruminates on the topic of mutual funds to the point where the read feels like the logical arguments are going in circles. Bogle does argue his points well though and backs them up with large amounts of historical data while also injecting his personal wisdom every so often the true gem of the book.
As a millenial who has taken the personal computer revolution for granted, it is tough to appreciate the weight of this book. It was hard for me to grasp the innovation of indexing because I have always found it to be an obvious idea.
We have fast computers and lots of stock data, so why not index? Although my demographic 23 years of age was probably a primary target of this text, I feel that it did not accomplish the task of compelling my thinking enough to read it straight through. Definitely worth a download, but I plan to peruse the chapters in random order as I need them rather than sit down and read the book cover to cover. Hardcover Verified download. This is a very, very detailed book.
It is like the reference Encyclopedia of Mutual Funds. On of my favorite things about this booko is that Bogle does not pull any punches. This is not a get rich quick view of funds. It is a treatise and a lifetime of experience condensed down into a readable book. While you can read the book cover to cover, I recommend using it as a reference where you read the book in the sections as you need them. 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.
Although this book can be considered useful, it contains serious, and avoidable, shortfalls that weaken this book's position in modern economics literature.
Truly the best way to use this book is to read the first part the book is separated into multiple "parts" and then focus on the introduction and conclusion of each section.
In-between, the reader finds a considerable amount of repetition and actions by the author that exactly opposed to what he recommends the reader do. The book's first 3 chapters start off well, giving the reader a decent amount of information.
However, a trend quickly appears in the author's writing style. For the first quarter of this book it can be forgiven as a "writing-of-the-times" for when it was first released and he was arguing for a larger acceptance of index funds.
However, even the years-later musings start being repetitive after the first third. Honestly, a better years-latter version would have been one that removed this excess repetition. Besides repetition which I cannot understate how agonizing it becomes as you progress in the book there is a consistent flaw in John Bogle's need to attribute meaning to every part of a figure, even when he stated once a few pages before that 5 year periods are rather meaningless on their own.
This is not helped by figure edits that dramatically change their meanings afterward, leaving the reader guessing at what they mean. One that comes to mind is the change of certain figures from the Sharpe ratio to another that was nearly unrepresented in prior chapters.
That the new figure-of-merit is better is undoubted, however the lack of explanation leaves the chapter significantly wanting. Perhaps one of the worst chapters for this is chapter 10, where it becomes quickly obvious that, not only are the figures poorly explained, but what they imply has very little meaning.
Shelves: economics , non-fiction , money , self-help This is the newest edition of one of the best investing books I've read. I was curious to hear Bogle's thoughts on the recent economic situation, and his reflections on his sage advice ten years earlier.
The last ten years, although totally unprecedented and unpredictable, have certainly borne him out. This book doesn't actually talk much about the stock market or asset allocation. It talks specifically about the mutual fund industry.
This book doesn't give the standard lines about beating the ma This is the newest edition of one of the best investing books I've read. This book doesn't give the standard lines about beating the market and picking mutual funds. It's even unique among books about passive investing in that it doesn't talk much about asset allocation and Modern Portfolio Theory.
What it does is incessantly rip into traditional mutual funds, particularly their cost structure. The first part explains all the ways costs matter. I found my jaw dropping a few times during this part. I already agreed with him, and yet, I was astonished. I knew that costs matter, but I had no idea that they mattered to that extent. I used to believe high costs are justified in some cases, but after this book, I really understand that even small differences in cost make an enormous difference long term.
Later, the book discusses how mutual funds are organized and how they subtly deceive shareholders. It seems downright fraudulent, and Bogle agrees. All along, he never fails to offer an alternative: index funds. I was grateful that the book ended with a mini autobiography, and an explanation of how Vanguard works, which is the company he founded. This man is a crusader, a hero, practically a saint among the investing community.